Post by
bogfit on Apr 01, 2022 1:03pm
Forget prices at the store or gas pump, focus on costs
in major mining regions.
"LIMA, April 1 (Reuters) - Peru's inflation hit in March its highest level in more than two decades, the government said on Friday, driven by rising global fuel and food prices amid the conflict between Russia and Ukraine.
The Andean country's consumer prices rose 1.48% last month, the highest since the 1.53% seen in February 1996, according to historical data provided by the Peruvian central bank.
In the first quarter of 2022, consumer prices in the Lima metropolitan region - which are seen as the national benchmark - stood at 1.84%, the government's statistics agency said.
In 2021, the South American country - the world's No. 2 copper producer - posted an annual inflation of 6.43%, the highest rate in 13 years.
Peru's monthly inflation hits 26-year high in March | Reuters
Of course, we don't know how this will all play out or how long inflationary pressures will last, but if it should continue, from experience we can anticipate higher labor costs, lower earnings for producers, and a potential for nationalization.
In extreme cases such as impoverished Africa we could also include the possibility of expanded social unrest and urban uprisings.
b.
Comment by
RoyKerr on Apr 01, 2022 2:05pm
hunger will destabilize ivanhoe will need to hire Sol's thugs.