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Welcome to Monday, Americas. Here's the latest news and analysis from Bloomberg Economics to help you start the week:
- Rent is spiking. Restaurants are buzzing. Covid restrictions have lifted. But New York City's unemployment rate is still twice the national average
- U.S. inflation will likely exceed 3% through the end of next year, according the majority of economists surveyed by the National Association for Business Economics
- U.S. and U.K. officials are set to discuss areas of cooperation on trade this week, even as the larger prize of a sweeping agreement sought by Britain remains far off
- The International Monetary Fund said its board of directors will discuss Argentina's $45 billion agreement on Friday, the final step of approval after two years of negotiations
- Meanwhile, Argentine President Alberto Fernandez called on his government to implement “all necessary measures” to combat 52% inflation that's been aggravated by the surge of global commodity prices
- China and Russia's trade relationship has become more complicated since the war started more than three weeks ago
- The U.K.'s inflation-fighting baton will pass from the Bank of England to the Treasury this week, as the nation braces for data showing a further surge in consumer prices
- Chancellor of the Exchequer Rishi Sunak could take aim at the U.K.'s swollen public-sector workforce as he tries to ease the worst labor shortages in decades
- The price of everything that goes into producing crops is surging, threatening to further fan global food inflation
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