Argentine government and private sector coincide inflation is climbing, and fast
Argentina’s consumer prices inflation reached 0.9% in January, accumulating 9.7% in the last twelve months according to the official Indec national statistics bureau. The index is less than half the private estimate or “Congress index”, 1.9%.
This is the fastest step since March 2010 when prices rose 1.1%. Indec said that a leading influence in the January index was the 127% hike of the subway tariff which represented 0.2% of the month’s inflation.
Opposition lawmakers announced on Thursday that prices rose 1.9% in January and approximately 23.5% in the last twelve months based on estimates of private economic consultancies which are banned from making public their estimates unless they follow official procedure for the estimates.
Early last year, Interior Commerce Secretary Guillermo Moreno imposed fines of as much as 500.000 pesos (115.000 dollars) on researchers for reporting that prices were rising faster than officially reported. Ecolatina and Orlando Ferreres & Asociados two internationally prestigious consultancies were among those sanctioned.
According to the official Indec, leisure costs, which include tourism and entertainment, rose 2.5% in the month, while transportation rose 1.9% fueled by the increase in subway rates.
Economists and politicians have questioned official inflation and GDP reports since January 2007, when then-President Nestor Kirchner changed personnel at the Indec statistics agency to what he said aimed to “improve operations”.
On February first the International Monetary Fund criticized Argentina’s “absence of progress” in improving statistics and said it needs to take steps to ensure it meets “the obligations of all member countries to provide accurate data” within 90 days.
The administration of President Cristina Fernandez has insisted in pointing out the influence of the 127% subway hike since last month the highly subsidized system was transferred to the City of Buenos Aires, without the monthly support cheque.
The Mayor of the City of Buenos Aires is Conservative Mauricio Macri considered one of the presidential hopefuls for 2015 with greatest potential to oust the ruling coalition.
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Remember my bet Ogaga, inflation over 12 months to the end of July - 35%. ONLY 10% to go. Just remind me what yours was? Ah yes, 9.5% was the figure 'I recall' to use a famous term popular with the Timmidman and his boss (and yours) CFK.
The UK 4.5% inflation rate in 2011
Argentine inflation between 25% and 30%. In 2011.
Don't need to say much more do I?
But I will, well why not? That's why Argentina is a joke country to the rest of the world a large country who has never got its act together and never will while you lot employ political masters who don’t know what they are doing.
Please illustrate what I have done to abuse you.
I said we dont agree often but we treat each other with a little respect.
Ok ok i see now I did not phrase it very well.But i meant to say clearly we dont often agree but treat each other with a little respect.
Unfortunately on this site this is now a complete rarity the rantings of some are getting to a ridiculous level.
I now understand, thank you.
Just telling how it is, and why should I give you any respect you don’t give my country any respect so you don’t get respect either and it’s the same with any other Argy blogger who thinks he or she can come on this site and question my countries integrity with out and out lies. You get it back tenfold.
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