MercoPress. South Atlantic News Agency
July official inflation in Argentina 0.8%; private estimates, 1.62%
The devalued Indec index was released the day after Sunday’s primaries Argentina's official inflation was up to 0.8% in July, the government reported on Monday, but private analysts said the real rate was about double that.
Twelve-month inflation through July was 9.7%, unchanged from June, the INDEC statistics agency said. However, analysts estimate Argentina's inflation at about 25% annually, together with Venezuela one of Latin America's fastest rates.
Official inflation figures are widely discredited as being too low to reflect real price growth. Inflation was 0.7% in June, according to the INDEC.
The disparity between private and official figures has sparked a government crackdown that includes large fines for economists who publish inflation data that differ from that of the government.
To protect local consultants from retaliation, opposition lawmakers have been releasing independent estimates.
Argentina’s “Congress inflation index” reached 1.62% in July, confirming well over 23% for the last twelve months according to the latest release from the Lower House
The INDEC said the biggest consumer price gains in July were in apparel and leisure, which rose 1.9% and 1.3%, respectively. Prices for food and beverages, the most heavily weighted item, rose 0.8%.
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Read all commentsI cannot believe the pueblo cannot see the inflation when they want to eat or drink or buy clothes. they blindly voted for CFK, again, and I am very disappointed. She claims to have increased salaries by 23.7 percent! That does not cover the inflation that is getting worse by the week.
Aug 16th, 2011 - 11:22 am 0These 'one-off' Mercopress postings do little to illuminate the context in which percentage movements take place.
Aug 17th, 2011 - 09:36 am 0If there is a recoupment from inflation/economic slump/etc, the % figure can look good, but the contextural position would show the economic collapse and fluctuating recuperation.
The underlying situation can still be catastrophic even when a percentage 'improvement' occurs.
The Economist uses graphs and time-series analyses to show the bigger picture. Perhaps Mercopress could do a little better.
@ 1 You can't believe it because nobody's blind, they see it, but they're lunatics and most of all, corrupt people. Anyway we're not here to change people's mind, reality (aka inflation) will do it in due time, you'll see. The mess this government is creating at every step will explode in their faces.
Aug 17th, 2011 - 10:06 pm 0Commenting for this story is now closed.
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