Latin America Economic Forecast

Economic Snapshot for Latin America

June 16, 2022

GDP growth will slow in 2022

Regional growth will ease notably this year, as elevated inflation and interest rates dampen domestic demand. However, the receding impact of the pandemic, returning tourism flows and sky-high prices for key agricultural and energy commodities will provide support. Currency outflows, lockdowns in China, new Covid-19 variants and sociopolitical unrest are risks.

Inflation to remain high in 2022

Regional inflation was stable at 14.5% in May. High commodity prices and de-anchored expectations in some countries will keep inflation in the double digits this year, despite tighter monetary conditions and steps taken in several countries to limit prices. Currency depreciation, extreme weather events and further government measures to tame prices pose risks.

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