Tracking Latin American beef and potato inflation with high-frequency local indices

Food inflation is picking up around the world as Hormuz-derived bottlenecks cause havoc for fertilizer markets and other key inputs. Latin America, an agricultural powerhouse, is not immune.

Beef prices are rising in unison from Brazil to Chile and Colombia (with a US cattle shortage and rising global demand for red meat also driving the trend).

To expand our granular coverage of individual nations and food categories, we’ve recently developed high-frequency goods price indices for Colombia and Chile – including the beef trackers in our chart.

Potatoes are also driving inflation in both countries; prices for the particularly desirable yellow “creole” varieties have more than doubled this year.