Latin American Shares Slip Amid Inflation Worries
Автор: FinancialNewsOnline
Загружено: 2011-02-09
Просмотров: 126
Описание:
Latin American stocks are lower amid inflation fears around the globe.
Fed Chairman Ben Bernanke said inflation in the United States remain "quite low," according to AP. However, that did little to quell fears, especially after China's rate hike this week to help keep inflation there in check.
In Brazil, the government this week is reviewing its 2011 budget with a view toward possible spending cuts, the Wall Street Journal reports. The cuts are considered necessary to hold back inflation, which has been rising in recent months on higher food and fuel costs.
Twelve-month Brazilian inflation through January was 5.99%, up from 5.91% for the 2010 calendar year and well above the government's 4.5% target for 2011.
Pressure also stems from softer crude prices. The U.S. Energy Information Administration said U.S. crude oil stocks rose about 1.9 million barrels, less than the expected increase of 2.4 million barrels. But gasoline stockpiles increased by 4.7 million barrels, more than the expected rise of 2.4 million barrels, in a survey of analysts by Platts.
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