Gasoline Prices Set to Rise 14%

The maximum retail price of regular gasoline in Mexico will rise on average 14% as of Jan. 1 as the country moves to market-set prices.

The rise announced Tuesday is the largest monthly jump on records going back to 2000.

Price controls will be scrapped late March in Baja California and Sonora. Other regions will follow.

--Juan Montes


Budget Deficit Widens to Above 9% of GDP

Brazil's government deficit widened to 9.28% of gross domestic product in the 12 months through the end of November, compared with 8.83% through October, the central bank said.

The primary budget balance, which gauges the government's ability to cut its debt, rose to 2.50% of GDP in the period, from 2.23%.

--Jeffrey T. Lewis


Inflation Pointing Up on Tax Changes

Turkey's central bank said tax adjustments to tobacco, food and energy are expected to put upward pressure on December inflation.

The annual inflation rate slowed to 7% in November but was above the bank's 5% target.

"Economic activity edged up in the fourth quarter and is expected to record a moderate growth in 2016," it said.

--Yeliz Candemir

(END) Dow Jones Newswires

December 28, 2016 02:47 ET (07:47 GMT)

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