The Atlanta Fed's macroblog provides commentary on economic topics including monetary policy, macroeconomic developments, financial issues and Southeast regional trends.
- BLS Handbook of Methods
- Bureau of Economic Analysis
- Bureau of Labor Statistics
- Congressional Budget Office
- Economic Data - FRED® II, St. Louis Fed
- Office of Management and Budget
- Statistics: Releases and Historical Data, Board of Governors
- U.S. Census Bureau Economic Programs
- White House Economic Statistics Briefing Room
May 10, 2005
Meanwhile, In Mexico...
From the Wall Street Journal (page A14 in the print edition):
Signs of higher inflation in Brazil and Mexico dimmed hopes of a break in interest-rate increases.
In Mexico, inflation rose 0.36% in April, and 4.6% for the 12 months through April. That was higher than the 4.39% recorded for the year through March. The latest increase, largely coming from a jump in vegetable prices, has put inflation even further beyond the bank's target range of 2% to 4% a year.
Core inflation, which excludes fresh fruit and vegetables, energy and education, rose only 0.21% in April, however, bringing annual core inflation down to 3.46% from 3.61% at the end of March. It was the sixth straight month of declines in annual core inflation.
Some economists think that given the decline in core inflation, the Bank of Mexico will hold off further monetary tightening this month. Others, however, are forecasting further tightening from Mexico's central bank Friday.
"The figure is high," said Eduardo Avila, an economist with consulting firm Prognosis. "Given that mid-term inflation projections are still far from the [central bank's] target, I think monetary policy will be tightened on Friday."
A year of monetary tightening by the central bank, coupled with rising U.S. rates, has led Mexican overnight rates to practically double in the past year to about 9.8%.
In Brazil, meanwhile, inflation expectations continued to nudge higher yesterday. According to a central-bank survey, markets now expect Brazil's benchmark IPCA inflation index to rise 6.3% in 2005 and 5.85% over the rolling 12-month period ahead. The central bank's target for 2005 inflation is 5.1% with a tolerance band up to 7%.
The central bank has raised its benchmark Selic rate to 19.5% in a bid to contain inflation. Analysts now believe the bank may have to maintain higher interest rates for longer than expected.
The news wasn't all bad, however.
TrackBack URL for this entry:
Listed below are links to blogs that reference Meanwhile, In Mexico...:
- Contrasting the Financing Needs of Different Types of Firms: Evidence From a New Small Business Survey
- Gauging Inflation Expectations with Surveys, Part 3: Do Firms Know What They Don’t Know?
- Gauging Inflation Expectations with Surveys, Part 2: The Question You Ask MattersA Lot
- Gauging Inflation Expectations with Surveys, Part 1: The Perspective of Firms
- Chances of Finding Full-Time Employment Have Improved
- Exploring the Increasingly Widespread Decline in Involuntary Part-Time Work
- The Long and Short of Falling Energy Prices
- And the Winner Is...Full-Time Jobs!
- For Middle-Skill Occupations, Where Have All the Workers Gone?
- A Closer Look at Employment and Social Insurance
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- Business Cycles
- Business Inflation Expectations
- Capital and Investment
- Capital Markets
- Data Releases
- Economic conditions
- Economic Growth and Development
- Exchange Rates and the Dollar
- Fed Funds Futures
- Federal Debt and Deficits
- Federal Reserve and Monetary Policy
- Financial System
- Fiscal Policy
- Health Care
- Inflation Expectations
- Interest Rates
- Labor Markets
- Latin America/South America
- Monetary Policy
- Money Markets
- Real Estate
- Saving, Capital, and Investment
- Small Business
- Social Security
- This, That, and the Other
- Trade Deficit