Our Latin America Chart Pack has been updated with the latest data and our analysis of recent developments.
Mexico and Brazil’s economies appear to have struggled towards the end of Q4 – a trend we expect to continue this year. In contrast, the Andean economies are on the recovery path and growth will accelerate this year. In Chile and Peru, inflation is now back within or within touching distance of central banks’ target ranges and we think it will stay there throughout 2024. In Chile in particular, this will pave the way for a few more large cuts. But inflation in Brazil and Mexico is likely to stay above target, meaning that monetary easing cycles will proceed more gradually.
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