Latin America News
LAST UPDATE: June 21, 2025
Canada Retail Sales Fell 1.1% in May, Largest Drop in a Year
Canada’s retail sales dropped by an estimated 1.1% in May, following a modest 0.3% rise in April. The decline—largest in a year—suggests that consumer spending momentum is fading amid the impact of recent US tariffs .
Insight
The sharp monthly drop signals a weakening in consumer demand, a key GDP driver. Tariff pressures appear to have curtailed purchases, raising concerns about broader economic growth in Q2.
Argentina government signals even deeper fiscal cuts ahead
Argentina’s government, under Economy Minister Guzmán, indicated plans for further fiscal austerity beyond existing belt‑tightening measures, maintaining a strong commitment to reducing the deficit .
Insight
This deeper austerity underscores determination to control public finances and preserve investor confidence amid IMF backing. However, it may limit social spending and risk slowing GDP growth.
Over 200 Mexicans have been detained since recent wave of raids began, Sheinbaum says
Mexico’s President Sheinbaum reported that at least 222 Mexican nationals have been detained in recent US-I.C.E. raids across Los Angeles and surrounding areas amid intensified immigration enforcement .
Insight
The situation highlights escalating cross-border tensions and domestic political pressure on Sheinbaum to safeguard citizens abroad. Mexico’s government is implementing consular support programs to aid detainees and their families.
Peru inflation seen slowing in 2025 before ticking back up
Inflation in Peru is projected to ease in 2025 due to stabilizing food and energy prices, though a slight increase is anticipated later in the year as domestic demand recovers.
Insight
The forecast reflects confidence in Peru’s monetary policy, yet it also highlights ongoing sensitivity to global market trends and local economic shifts, especially as the country rebuilds post-pandemic resilience.
