MercoPress. South Atlantic News Agency
Argentines inflation expectations for the next 12 months in July climbed to 35.7%
In the lower income bracket the expectation is even higher Argentines inflation expectation for the next twelve months climbed in July to 35.7% from 34.9% in June according to the latest report form the Di Tella University Finance research centre (UTDT).
This is the fifth month running that inflation expectation is above 30%, although there are some slight variations to that perception: while in Buenos Aires City it stands at 36%, in metropolitan Buenos Aires it is 35% and in the rest of Argentina climbs to 37%.
According to the replies from the interviews for the poll, for sectors with lower purchasing power the inflation rate expectation is 37.9% while on the opposite, the high income bracket the rate is 34.9%, said Guido Sanleris head of the UTDT research centre.
The official inflation for the last twelve months according to the government’s stats office, Indec, in June was 9.9%, but private estimates, an average of which is released by the Freedom of Expression committee from Congress indicated 23.9%.
The new salary contracts in Argentina are discussed from private inflation ratings and estimates since there are suspicions the official data from Indec is manipulated. A suspicion shared by the Argentine Judiciary and multilateral organizations such as the IMF and the World Bank.
The inflation expectations public opinion poll was done by consultants Poliarquía between July 2 and 10, and included 1.205 interviews covering the whole of Argentina.
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Read all commentsmeans that 1 paso you have saved all your life for retirement is now worth 0.63 paso. well done Argentina! and yes i am being sarcastic
Jul 20th, 2012 - 08:52 am 0@1 That's only one year from now - for every 100,000 pesos someone has saved, in 10 years time that will be worth the equivalent of 4,300 pesos at the expected inflation rate. Inflation is a terrible thing for an economy, unfortunately for Argentina it seems that its wounds are mostly self-inflicted and that there is no change of economic direction coming any time soon.
Jul 20th, 2012 - 08:58 am 0Having beaten Venezuela to the top spot for inflation in South America, I can see that she is not just trying to consolidate top position but actually trying to pull away from the chasing pack. Impressive work indeed CFK. This is a big statement of intent. Keep it up.
Jul 20th, 2012 - 10:33 am 0Commenting for this story is now closed.
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