US-Venezuela ties, Brazil fuel price hike

A meeting this week between officials from the US and Venezuelan governments could be the first step on a long road towards sanctions being lifted on the country. That would be necessary for Venezuela to rebuild its shattered economy over the medium to long term. Otherwise, the sharp hike to fuel prices in Brazil will push inflation above 11% and will weigh on real incomes and consumer spending. So while the mining sector will benefit from higher commodity prices, the economy as a whole will remain sluggish.