Inflation Pummels Latin America; Ecuador Receives Record Remittances

A roundup of Friday’s news from across Latin America

Bloomberg Línea
April 08, 2022 | 09:40 PM

Bloomberg Línea — Inflation in Brazil, Chile and Mexico has surpassed expectations, with analysts saying that in the latter country, for example, the central bank will need to be more aggressive in raising interest rates to counter the price rises. And in Ecuador, migrants’ contribution to the economy is growing, with remittances setting a new record in 2021, totaling $4.36 billion, 30.7% more than in the previous year.

On the region’s stock markets, Argentina’s Merval index (MERVAL) once again had the best performance in the region, gaining 0.58% on Friday, while the Peruvian stock market saw the sharpest fall in the region, with the S&P BVL Peru (SPBLPGPT) down 1.57% at closing, while Mexico’s S&P BMV/IPC (MEXBOL) dropped 1.07% and Brazil’s Ibovespa (IBOV) dropped 0.45%.

Following is a roundup of Friday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.



  • Brazil’s inflation has risen above expectations, powered by hikes in fuel prices. Price rises exceeded all forecasts in March following national oil company Petrobras’s decision to increase fuel costs, adding to global inflationary pressures following the Russian invasion of Ukraine.


  • Monthly inflation again surprised the market in Chile, with the CPI for March up 1.9% month-on-month, an accumulated variation of 3.4% so far this year, and a 12-month increase of 9.4%.
  • LarraínVial sees the Chilean peso falling to 850 per dollar by the end of the year.


Dominican Republic: