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Economic Indicators

Michigan Consumer Sentiment Index Hits 11-Year Low, but CPI Expectations Steady

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© Reuters.

By Geoffrey Smith

Investing.com — Consumer sentiment in the U.S. is at its lowest ebb in 11 years after another sharp drop, according to the University of Michigan.

The University’s monthly survey showed the main confidence index falling more than expected to 59.1 from 65.2 in the month through mid-April. The sub-indices assessing current conditions and expectations both fell.

The one bright spot from the survey was that consumers’ expectations for inflation over the next five years remained steady at 3.0%, suggesting that the Federal Reserve is no longer falling behind the curve in the public mind when it comes to bringing inflation down. Data released earlier this week were interpreted as a tentative sign that year-on-year inflation may have peaked at 8.5% in March, declining to 8.3% in April.

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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