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Economic Indicators

Greek inflation jumps to 10.2% y/y in April, hits 28-year high

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© Reuters. FILE PHOTO: People sit in a cafe in central Athens, Greece, September 3, 2020. REUTERS/Alkis Konstantinidis

ATHENS (Reuters) – Greece’s annual consumer inflation jumped to its highest level in 28 years in April at 10.2% on the back of surging costs for energy, housing, transportation and foods, official data showed on Tuesday.

Price growth was 8.9% in March, according to statistics service ELSTAT.

Greece’s annual EU-harmonised inflation also rose sharply to 9.1% in April from 8.0% in March, further squeezing disposable incomes.

EU-harmonised inflation is an index of components used across the EU to measure inflation in a consistent way.

Natural gas prices soared 122.6% on an annual basis, while electricity prices increased 88.8%, ELSTAT said.

The cost of housing rose 35.2% year-on-year, transportation prices were up 15.4% with foods and non-alcoholic beverages 10.9% more expensive, the data showed.

Economic Indicators

Mexico to suspend import duties on food staples to tackle inflation

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© Reuters. FILE PHOTO: Customers buy tomatoes at a street market, in Mexico City, Mexico December 17, 2021. REUTERS/Luis Cortes

MEXICO CITY (Reuters) – Mexico will waive import duties for one year on a range of household staples, most of them foodstuffs, in a bid to curb inflation, the government said in its official gazette on Monday.

The products on the government list included corn oil, rice, tuna, pork, chicken, beef, onions, jalapeño peppers, beans, corn flour, wheat flour, eggs, tomatoes, milk, lemons, white corn, apples, oranges, wheat and carrots.

Bread, potatoes, pasta for soup, sardines, sorghum and hand soap were also listed in the decree.

Duties would also be suspended on imports of live cattle, pigs, sheep, goats and chickens, the government said.

The government said the waiver on the household staples would take effect from Tuesday and be in force for a year. The waiver on livestock would enter force pending the approval of Mexico’s foreign trade commission, it added.

The measures could be extended for another year, it added.

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Economic Indicators

Brazil’s govt debt falls to 78.5% of GDP in March

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© Reuters. People walk in front the Central Bank headquarters building in Brasilia, Brazil March 22, 2022. REUTERS/Adriano Machado/File Photo

BRASILIA (Reuters) – Brazil’s government debt as a share of gross domestic product fell to 78.5% in March from 79.2% in February, central bank figures showed on Monday.

The public sector recorded a primary surplus of 4.3 billion reais ($846.54 million) in March, posting a surplus equivalent to 1.37% of GDP in the 12 months. The data was released late due to an ongoing strike by central bank employees.

($1 = 5.0795 reais)

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Economic Indicators

Mexico to suspend import duties on foods to help curb inflation

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on


© Reuters. FILE PHOTO: Customers buy tomatoes at a street market, in Mexico City, Mexico December 17, 2021. REUTERS/Luis Cortes

MEXICO CITY (Reuters) -Mexico will waive import duties for one year on a range of household staples, most of them foodstuffs, in a bid to curb inflation, the government said in its official gazette on Monday.

The products on the government list https://www.dof.gob.mx/nota_detalle.php?codigo=5652070&fecha=16/05/2022 included corn oil, rice, tuna, pork, chicken, beef, onions, jalapeño peppers, beans, corn flour, wheat flour, eggs, tomatoes, milk, lemons, white corn, apples, oranges, wheat and carrots.

Bread, potatoes, pasta for soup, sardines, sorghum and hand soap were also listed in the decree.

Duties would also be suspended on imports of live cattle, pigs, sheep, goats and chickens, the government said.

The government said the waiver on the household staples would take effect from Tuesday and be in force for a year. The waiver on livestock would enter force pending the approval of Mexico’s foreign trade commission, it added.

The measures could be extended for another year, it added.

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