In their efforts to face the second year of the pandemic, the largest economies in Latin America closed 2021 with a higher than expected price increase due to climatic, political and social factors and problems related to international trade.
The Economic Commission for Latin America and the Caribbean (ECLAC), a UN body based in Santiago de Chile, reported a general inflation of 7.2% for the region in 2021, not counting countries with chronic inflation, such as Argentina, Haiti, Suriname and Venezuela.