High Rate of Emissions from Cement and Steel Manufacturing in 2024
Inflation Rate for Food in Latin America
By Shubhendra Anand , 17 May, 2023
Food is the most significant contributor to inflation in Latin America and the Caribbean (LAC). In Venezuela, the inflation rate is high for the food of Latin America, as per the data by the Food and Agricultural Organization of the United States (FAO). Venezuela saw an increase of 110.4 percent in the inflation rate until September, and Argentina also saw the second highest rate, 86.8 percent.
According to FAO, the three countries with low food inflation rates for the same period are Bolivia at 2.2 percent, Panama at 5 percent, and Ecuador at 7.1 percent. Also, FAO said that the average annual food inflation in the region was 43.9 percent in September 2022, but it did not exceed 23 percent globally.
The LAC region is still experiencing socio-economic factors on a national basis which might be a reason leading the inflation to rise. The United Nations development program says the Russian- Ukraine war and the pandemic have contributed to the consequences of these overlapping crises affecting the societies in LAC.
According to FAO, lower-income households are more vulnerable to food inflation, most probably due to the disproportionate budget allocation towards the spending on food.Inflation Rates in Latin America
Latest News
High Rate of Emissions from Cement and Steel Manufacturing in 2024
The United Nations Environment Programme (UNEP) claims limiting the increase in global average temperature to 1.5 degrees Celsius is quite unrealistic. The emission rate from different industries shows various results in the reports published by UNEP…
Gen AI Revolutionizes Insurance Sector, Tries to Build Consumers’ Trust
Insurer executives worldwide report that generative AI is critical to maintaining their edge in the insurance market, and as such, 77% of them rank its significance. But customers, in this case, the clients of insurance companies, are more cautious…
China Plans to Manufacture Fastest Charging EV Batteries
China rightfully takes center stage in progress in ultra-fast charging EV batteries. As it appears, a Chinese electric vehicle manufacturer has emerged as a clear industry leader by developing the fastest charging battery in the world that can go…
Chinese Tech Sector Strengthens, may Dominate Western Big Techs in the Future
Chinese market goes through significant economic changes in 2024. Globally, Chinese brands are climbing the ladder higher in the market. A 2024 survey shows the performance of some Chinese companies with the highest brand value. These companies help…
Supply Chain Disruptions causes Slow Clean Energy Transition
There is a global race to clean energy sources because of climate change in 2024. However, there is a danger that the impending metal supply crisis will offset this gain. The move to renewable energy technologies greatly depends on critical minerals…
Shubhendra Anand
Head Research
