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Argentina's monthly inflation is likely to have remained under 3% in November, near its lowest level of the year but slightly up from the month before, underscoring the challenge for libertarian president Javier Milei to rein in prices. A Reuters poll of analysts published on Tuesday showed a median forecast rise of 2.8% in the month after 2.7% in October. Argentina has been battling to bring down what has been the highest inflation rate in the world, peaking at almost 300% a year.

WASHINGTON (Reuters) -U.S. unit labor costs grew far less than initially thought in the third quarter, pointing to a still favorable inflation outlook even though price increases have not moderated much in recent months. The report from the Labor Department on Tuesday also showed labor costs actually declined in the second quarter instead of rising as had been estimated last month. Moderate labor costs growth is likely to be welcomed by Federal Reserve officials when they hold their last meeting of year next week.

The U.S. Federal Reserve will cut interest rates by 25 basis points on Dec. 18, according to 90% of economists polled by Reuters, with most expecting a pause in late January amid concerns about rising inflation risks. President-elect Donald Trump's proposed policies, from import tariffs to tax cuts, are expected to be inflationary. Trump is expected to move quickly on his agenda soon after he is inaugurated on Jan. 20.

(Bloomberg) -- Australia’s central bank said it’s “gaining some confidence” that inflation is moving sustainably toward target, prompting traders to boost bets on interest-rate cuts starting as early as February.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectCloud Computing Tax Threatens Chicago’s Silicon Valley AmbitionsNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampSan F

When libertarian President Javier Milei assumed office one year ago, Argentine supermarkets were marking price increases on an almost daily basis. It was popular outrage over this upside-down economy that fueled the rise of Milei, a self-declared “anarcho-capitalist” and former TV pundit who rode to power on vows to “blow up” the central bank, take an axe to the bloated government and kill sky-high inflation. It was an almost impossible job, and Milei's lack of government experience, unkempt hairdo, sexual boasts and missionary-like zeal for his dead dog, the Rolling Stones and the free market didn't inspire much confidence in a country with a history of failed economic reforms.

(Bloomberg) -- Australia’s business confidence fell sharply in November and conditions, which measure jobs, sales and profitability, softened further in another sign that the private sector of the economy is under heavy pressure.Most Read from BloombergBrace for a Nationwide Shuffle of Corporate HeadquartersA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectCloud Computing Tax Threatens Chicago’s Silicon Valley AmbitionsNYC’s Run-Down Bus Terminal Gets Approval for $10 Bi

Efforts by New Mexico to save and invest portions of a financial windfall from local oil production are paying off as state government income on investments surpasses personal income tax collections for the first time, according to a new forecast Monday. General fund income from the state's two, multibillion-dollar permanent funds and interest on treasury accounts is expected to climb to $2.1 billion for the fiscal year between July 2024 and June 2025, surpassing $2 billion in revenue from personal income taxes. The investment earnings are designed to ensure that critical programs — ranging from childcare subsidies to tuition-free college and trade school education — endure if oil income falters amid a possible transition to new sources of energy.