Bloomberg Mexican state-owned oil producer Petroleos Mexicanos has fully revoked a truck-leasing contract that was 63 percent more expensive than a prior agreement, according to a company document. The deal, assigned on Dec. 23 to companies including Integra Arrenda SA, included the leasing of 2,252 6-cylinder 2015-model pickups for an average of 534 pesos a day per vehicle. That compared …

Bloomberg Every major economy in South America is missing its inflation target. Inflation is near a 12-year high in Brazil, at a seven-year high in Colombia, near a four-year high in Peru and has exceeded the target for much of the past two years in Chile. Argentina, which is starting to restore inflation targeting, has price growth of about 30 …

bloomberg Brazil’s central bank said domestic and global uncertainties require further monitoring but could improve conditions for the convergence of inflation toward the target in 2017. Policy makers, led by their President Alexandre Tombini, kept the key rate unchanged at 14.25 percent last week for the fifth straight meeting, matching the median forecast of analysts surveyed by Bloomberg. Two of …