MercoPress. South Atlantic News Agency
Argentine ‘official’ February inflation at 0.7%: private estimates, 1.65%
‘Official’ construction cost was up 0.8% in February Argentine inflation reached 0.7% in February against the previous month, and accumulated a 1.7% increase in 2012 so far, according to the Indec national statistics bureau. This is less than half the index from the private agencies and released as the •Congress index”, which in February marked 1.65% and
Food and beverages along with healthcare attention and expenditure were the sectors that increased the most, said Indec.
Other data showed that wholesale prices increased 1% in February accumulating 2% in the first two months of 2012.
Construction cost was up 0.8%, with materials rising 1.2%; other costs, 0.3% and, labour, 0.3%.
In the last twelve months, retail prices as measured by Indec increased 9%, but according to private estimates, 20.78%.
Argentine official stats are questioned by the multilateral organizations such as the IMF and World bank, and several Argentine provinces which have their own stats offices, and virtually ignored by judicial rulings in litigations, and by trade unions, allegedly aligned with the government.
Organized labour when discussing pay rises use as reference the so called “supermarket index” which is based on private estimates.
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Read all commentsI never trust any number coming out of Argentina, whether they are inflation rates or average swimming pool PH levels.
Mar 14th, 2012 - 04:14 am 01 Stefan
Mar 14th, 2012 - 05:24 am 0Do you trust your government numbers?
2: No, we don't, but we do trust the IMF, economist magazine, and any number of other independent institutions and organisations that have no reason to criticise or take sides. Remind me what they said about Argentina again...?
Mar 14th, 2012 - 06:21 am 0Commenting for this story is now closed.
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