G20 considers global inflation close to being “effectively tamed”

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The G20 finance ministers, meeting in São Paulo (Brazil), consider that inflation is not far from being “effectively controlled” and affirmed that they will continue to pay “close attention” to its trajectory in order to avoid an upturn, Brazilian official sources reported on Thursday.

The director of International Affairs of the Central Bank of Brazil, Paulo Picchetti, who participated in the two days of work of the G20 Finance, said at a press conference that “all countries” have positively appreciated the current downward trend in prices.

“But at the same time there is a diagnosis that we have not yet arrived (at the finish line). The last kilometre of the race is still to go,” he said.

In his opinion, it is necessary to “complete the last part” of the course, something “fundamental not only for the necessary macroeconomic stability, but also for the concern about inequalities”, one of the central themes of the meeting.

“The most perverse element for the least favoured population is inflation, especially the inflation of recent times, which has to do with food,” the Brazilian official stressed.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.