International
Brazil February inflation rate hits seven-year high
AFP
Brazil’s inflation rate hit a seven-year high for the month of February, the government said Friday, as hefty fuel-price hikes took effect that will only exacerbate surging prices, a sore spot for President Jair Bolsonaro.
The monthly inflation rate for February in Latin America’s biggest economy came in at 1.01 percent compared to January. This was the highest for the month of February since 2015, said national statistics institute IBGE.
The annual inflation rate rose 0.16 point to 10.54 percent, it said.
That remains far above the central bank’s target of 3.5 percent, defying the bank’s efforts to rein in prices with one of the most aggressive series of interest-rate hikes in the world.
With the Russia-Ukraine war now pushing prices even higher worldwide, Brazil’s inflation problem is only expected to get worse — especially after state-run oil company Petrobras announced it would hike gasoline prices by 19 percent and diesel by 25 percent from Friday over the fallout of the Ukraine crisis.
“Higher fuel prices are likely to push the headline (inflation) rate up even further in March, to above 11 percent,” William Jackson, chief emerging markets economist at Capital Economics, said in a note.
“While the central bank’s monetary policy committee hinted at its last meeting that the tightening cycle was nearing an end, the worsening inflation outlook is likely to keep it in a hawkish mood.”
Brazil’s central bank has raised the key interest rate from an all-time low of two percent in March 2021 to 10.75 percent currently.
But the massive hikes have yet to bring down soaring prices, which are hurting Brazilians’ wallets and Bolsonaro’s popularity as he fights an uphill battle to win reelection in October against leftist ex-president Luiz Inacio Lula da Silva, his likely opponent, who currently leads in the polls.
International
Petro expresses concern over fatal shooting during mass protests in Lima
Colombian President Gustavo Petro voiced his “concern” on Thursday over recent events in Peru, following the death of a protester reportedly shot during a massive demonstration in Lima against the government and Congress.
“I must express my concern over the events in Peru. A young artist has been killed in citizens’ protests,” Petro wrote on X (formerly Twitter).
The Colombian leader also noted that in Peru, “a popularly elected president remains imprisoned without conviction,” referring to Pedro Castillo, who led the country from July 2021 to December 2022 until he was removed by Congress following a failed attempted coup.
“This is a blatant violation of the American Convention on Human Rights,” Petro stated, adding, “I hope Peru seeks social and political dialogue to legitimize its public institutions.”
On Wednesday, Peru experienced widespread protests in several cities, with the largest demonstration in Lima in recent years, driven by citizens’ concerns over corruption and public insecurity.
During the capital’s mobilization, the Ombudsman’s Office confirmed the death of Eduardo Ruiz, 32, and reported clashes that left over 100 injured, including 78 police officers and 24 protesters, as well as ten arrests.
The Attorney General’s Office, investigating Ruiz’s death “in the context of serious human rights violations,” confirmed that the protester was shot.
International
Peru’s interim president José Jerí refuses to resign after protester’s death in Lima
Peru’s interim president, José Jerí, stated Thursday that he has no intention of resigning from the post he assumed last Friday, following the removal of former president Dina Boluarte, despite growing unrest over the death of a protester during massive demonstrations in Lima on Wednesday.
“I will not resign,” Jerí declared outside the Government Palace in Lima, where he returned on foot after making a surprise visit to Congress headquarters alongside Prime Minister Ernesto Álvarez.
Earlier, after leaving the Legislative Palace, the president acknowledged that the country is going through “difficult times” and condemned what he described as “a small group attempting to impose an agenda different from the citizens’ expression of discontent.”
Jerí expressed condolences for the death of Eduardo Ruiz, a 32-year-old man who died during Wednesday’s protest against the government and Congress, amid growing anger over corruption and insecurity.
“We stand in solidarity with his family,” he said, without offering further details about the incident, which has sparked outrage among Peruvians.
The president also described the demonstrations as “a legitimate civic expression” that later turned violent due to “certain groups seeking to provoke chaos by exploiting a peaceful citizen movement.”
“In a state governed by the rule of law, the rights of both demonstrators and security forces must be protected,” Jerí emphasized, adding that “as a result of that situation, this unfortunate death occurred outside the main area where the protest was taking place.”
International
Mexican government prioritizes 191 communities after deadly floods
Mexican President Claudia Sheinbaum confirmed on Wednesday that the death toll from recent rains and floods across several central states has risen to 66, while the federal government has activated air bridges and prioritized assistance in 191 isolated communities.
“Unfortunately, 66 people have died, and 75 remain missing,” the president said during her morning press conference. She added that the official death toll will be updated later in a new report.
As of Tuesday, authorities had reported 64 fatalities. Sheinbaum also announced the creation of a public information center to centralize official data on the deceased, missing persons, damaged homes, and cut-off communities.
According to the president, the number of missing persons has decreased thanks to coordination with state authorities.
“Through calls to phone line 079, 103 people who had been reported missing have now been located,” she explained.
Priority Municipalities
The president noted that the federal government has classified 191 communities as ‘priority’, a designation based mainly on the percentage of homes affected.
Petro expresses concern over fatal shooting during mass protests in Lima
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