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Inflation Is Raging Everywhere, But It’s Worst in Latin America

  • None of the main economies will reach its CPI target in 2021
  • Fiscal risks added to persistent food and energy shocks
A Petrobras gas station in Rio de Janeiro, Brazil, on Oct. 21.

A Petrobras gas station in Rio de Janeiro, Brazil, on Oct. 21.

Photographer: Dado Galdieri/Bloomberg

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Inflation shocks are spreading pain around the world, but nowhere is it as bad as Latin America.