Latin America Economic Forecast

Economic Snapshot for Latin America

January 18, 2023

Economic Growth

The regional economy will lose steam in 2023 on tight financial conditions and lower average prices for key commodity exports. However, recovering tourism arrivals, China’s Covid-19 reopening and a likely soft landing of the U.S. economy will prop up the external sector. Outbreaks of sociopolitical unrest and tighter-than-expected monetary policy are key risks to the outlook.

Inflation Outlook

Regional inflation rose to 17.3% in December from 17.0% in November on the back of higher inflation in Argentina, Colombia, Ecuador and Peru. Inflation likely peaked in Q4 and will fall this year due to slowing growth and lower external price pressures. Currency depreciation, extreme weather events and sociopolitical unrest pose upside risks to price pressures, however.

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5 years of Latin America economic forecasts for more than 30 economic indicators.


Latin America Economic News

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