Despite less favorable international scenario，Latin America is expected to achieve six consecutive years of growth in 2008，with Gross Domestic Product（GDP）rising at 4.7%. Sustained economic growth，falling unemployment，more employment opportunities，better job quality and the expansion of non-wage income，have all made it possible for the region to reduce the poverty rate.

In recent years，Latin American economy has been de-coupling from that of the U.S.，mainly as a result of the region’s expansion of domestic demand and diversified foreign trade pattern. Furthermore，the sub-prime crisis has had no major direct impact on Latin American countries.

In order to deal with rising inflation pressure，many Latin American countries have taken the following measures：providing price subsidy for energy and food；enacting price controls；loosening limitations on food imports；encouraging agricultural production；implementing quotas for food exports；improving the marketing systems for energy and food；making use of strategic food reserves；expanding government procurement for food；and speeding up the development and utilization of renewable energy.