Argentine private agencies July inflation 1.76% and 24.13% in twelve months
Argentine opposition lawmakers presented on Thursday July’s inflation index based in the analysis of nine private agencies, which showed a 1.76% increase against the previous month and doubles the official index from the government of President Cristina Fernandez.
In the first six months of the year, the so called congressional index has the following readings: Jan, 1.9%; Feb, 1.65%; March, 2.31%; April, 2.16%; May, 1.71%; June, 1.68% and July, 1.76%.
These numbers are more than double the official CPI index calculated by INDEC: Jan, 0.9%; Feb, 0.7%; March, 0.9%; April, 0.8%; May, 0.8% and June, 0.7%.
According to the indexes of different private agencies, the inflation has accumulated 24.13% between July 2011 and July 2012.
Legislators Eduardo Amadeo (Peronist Front), Juan Pedri Tunessi (Radical Party), Paula Bertol and Pablo Tonelli (PRO), and Patricia Bullrich (Unión por Todos) presented the “Congress Index” during a press conference in the Argentine congress building.
Bullrich underlined the importance of the release of the inflation data elaborated by private consultants because it has become “an institution, the Congress index on inflation is a national reference”.
Lawmaker Tunessi highlighted that the inflation index registered in July “the highest volume in the last 14 months” and Bullrich assured that “we are stranded and the raise of the salary is a big lie, such as the Indec”.
“Things are not improving, rather the opposite”, said Tunessi pointing out that inflation keeps increasing “in a context of strong fall in the economic activity”.
Lawmaker Tonelli holding up a 100 Pesos bill said that compared to 2007, that same bill “nowadays has a purchasing power of 33.61 Pesos”, according to studies from the private economic consultants.
The members of the congressional freedom of expression commission make theirs an average of the private agencies because these face heavy fines if they don’t reveal their methodology to estimate the monthly hike in prices.
Since the measure was enforced several agencies were fined so they ceased to make them public, but an average of several of them is announced every month by opposition members from the congressional freedom of expression commission.
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Couldn't agree more. All inflation agencies have been completely discredited but these guys aren't the bad guys, no, not at all. The people who really stink in this situation are all of the shops owners (be they large or small) who lie about the prices in their shops and, when the random spot checks are asked to verify prices for inflation, they run around the shop floor (always just one step ahead) changing the price of every single item in the shop to reflect prices that are in-line with 24% inflation rather than the real 9.9% inflation rate. They then go back and change all these prices, once the inspector has left, to reflect the real 9.9% rate. It angers me so much as there is nothing more annoying than going into a shop half way through this process to find that some of the stuff you've picked up has been priced at the “lie” rate and others at the real rate.
I also have a massive beef with the vast majority of the country as they know that this is a very wide spread endemic of price-fixing as they can see shop keepers running around continually fixing the prices just before an inflation inspectors come in. I am just amazed that this has never been reported but I suspect that this is because 99% of the population are so scared of the corporates/church/inflation agencies or are all the love children of Macri and they just do not want it reported. This is a massive cover-up, I only hope that common sense will prevail and everyone will believe whatever the government says regarding inflation from now on, even if all the evidence points to a completely different set of facts.
The methods will be the same as used round the world using the Consumer Price index (CPI) and Producers price index (PPI). You can read all about these ”really difficult economic measures here.
www.investopedia.com/university/inflation/inflation2.asp
BK please explain why you dont believe them? What does an independent group of economists (many of thom are from Argentine Universities) have to gain from lying about the inflation. They would be as equally affected as anyone else by an economic collapse brought on by inflation.
“And don't get me started on these right wingers in Congress...”
Really did you read the lsit of congressmen involved? One of them is a peronist which you maintain (wrongly by the way) is a left wing organisation. Why would the right benifit from high inflation? Inflation hits hardets to those on fixed incomes i.e. the poor relient on benifits. CFKs economic policies are hurting the poor the hardest. Maybe you should take your head out from up the Vaca Locas culo and see the evidence staring you in the face. I believe the private estimates are probably to the high side but I trust there numbers much more than those of a government controlled organisation where all the economists were saked for doing a good job and repalced with government cronies who only report what they government tells them to. In my book that is state sponsered lieing and corruption.
So as usual you are talking out of your a*se!!!!
Of course in the short term this isnt a problem, but it obviously shows that the inflation and other economic problems are causing the international money market to question the pesos worth. The questions is when will the dollars (dervied in Argentina from exports, tourism and investment, which are all in decline at present) run out? Especiialy when we know the dollars are also needed to service foreign debt payments and imports.
At least we now know the real reason we are not being allowed to buy dollars. Basically they are needed to propr up the failing pesos which has been caused by complete miss management of the economy by CFK.
www.buenosairesherald.com/article/108548/central-bank-restrains-dollar-price
@3 “Inflation inspectors”? Are you having a laugh? Shopkeepers and a corrupt government conspiring to tell lies to mislead the people? A dictatorship in denial!
www.ripoffreport.com/hotel/los-sauces-casa-pata/los-sauces-casa-patagonica-hot-4b187.htm
www.ripoffreport.com/plastic-surgeons/argentina-plastic-su/argentina-plastic-surgery-da-50cdb.htm
www.ripoffreport.com/argentina-afip-agenc/federal-government/argentina-afip-agencia-federal-f204d.htm
Spread the word about this banana republic so called “government”!!
www.buenosairesherald.com/article/108446/righteous-indignation-doesn’t-help-
www.buenosairesherald.com/article/108345/pdvsa-petrodollars-for-everybody
1/The system blatantly, unashamedly lies about the inflation rate -
inflation is not just a minor issue but something that really affects people - mostly their poorer voter base rather than their mortal enemy the middle class. They totally shit on their voters.
2/No one can question them without being roundly ridiculed at best and at worst pressurised through their business and lifetsyle. This suggests they have alot to fear from people exposing the system.
'look what sacrifices we make for Argentina, the people. You voted for us so dont you dare criticise us'
Its a VERY shallow democracy but the system seems to be proud of itself because
1/People can vote (not important how those votes are acquired)
2/Its not military rule
3/They dont throw their own people from planes or steal children
and thats probably it.
Democracy requires a bit more than that you arrogant, malicious tossers.
End Peronism and its corrupt and outdated principles and Argentina can grow into the strong country it once was in the 1920s 1930s.
And this is how people vote in Argentina:
www.youtube.com/watch?v=UyPC0SD0PGw
Compulsory voting is not in itself a bad thing. Australia has the same system and I feel it should be obligatory, even if you put a blank ballot form in the box you are still voting.
Errrr...yes, read again and I think you'll see that I am having a laugh
Just to emthasis the point, an accademic research paper conducted by two Argentine accademics into vote buying in Argetnina.
lasa-2.univ.pitt.edu/LARR/prot/fulltext/vol39no2/Brusco.pdf
Nationalism is the heart of the problem.
Peronism uses nationalism to manipulate and subdue the people. Without nationalism Peronism wouldnt exist. Peron cultivated it but now its sort of become a beast in its own right.
So while the middleclass hate Peronism they remain nationalistic and in doing so indirectly support Peronism because whilst they criticise the systems methods on internal issues they allow the -government- to behave in a dishonest and dishonorable way regarding -Las Malvinas- and to a degree the expropiation of YPF etc because they are -nationalistic- issues.
This means unfortunately the non Peronist voters will always lack the integrity to truly challenge the system. Sorry to say but moaning in El Clarin and banging a few pots in a plaza wont really challenge this arrogant, oppressive system.
The middle class have to forget about nationalism and focus on democracy and in doing so put alot more pressure on the system. Instead of saying -what is good for ARgentina? they need to say -what is good for democracy?-
Aug 10th, 2012 - 03:18 pm
Correct, 100%. What Argentina needs is at least ONE patriotic politician with enough charisma to attract enough votes to get rid of the peronist plague!!!!!
have now proven that they don't live in Argentina and also haven't visited the country during the last several years.
Welsh Wizard's “who lie about the prices in their shops ” is WW's lie.
I have a stack of supermarket tickets from Mendoza dating from March 2009 through April 2012, which shows article no., name and price - not reporting observations, but documented real consumer prices.
I also have a spreadsheet with prices for articles I often bought, ranging 2 to 2½ years before April 2012.
Azucar Fronterita 1 kg: 6.50 . 3.79 . 2.95 . 2.35 . 2.15 . 1.89 . 1.99
Azucar Ledesma 1 kg: 6.99 . 6.50 . 2.75 . 2.59 . 6.50 . 2.75 . 2.59
Café Colombiana ¼ kg: 34.50 . 31.25 . 28.75 . 26.25 . 22.50 . 21.00 . 19.00 . 17.50 . 15.00
Caramelo Butter Toffees 150g: 8.05 . 7.15 . 5.15 . 4.79 . 4.49 . 4.15 . 3.59 . 4.15 . 53.67
Cigarillos Jockey Suave largo: 8.00 . 7.75 . 7.25 . 7.00 . 6.75 . 6.50 . 6.00 . 5.75 . 5.50 . 5.00 . 4.50
Jugo de Naranja (Baggio): 6.99 . 3.19 . 3.59 . 2.99 . 3.59 . 3.49 . 3.35 . 3.09 . 2.99 . 3.25
Leche semi descremada i pose: 5.99 . 5.66 . 4.79 . 4.69 . 4.39 . 4.50 . 4.10 . 3.95 . 3.80 . 3.60 . 3.30 . 2.65 . 3.20 . 3.10 . 2.59
Manteca Light 200g La Serinisima: 12.99 . 11.65 . 9.99 . 8.50 . 8.10 . 6.50 . 6.20
Shampoo El Vive 400 ml: 19.98 . 17.98 . 16.90 . 15.99 . 14.90 . 12.90
Estancia Mendoza Merlot/Malbec: 15.15 . 10.85 . 10.65 . 12.90 . 10.90 . 10.90 . 9.99 . 7.99 . 7.59
Pampero Pantalon de combate date: 2012.03 . 2011.10 . 2011.05 . 2010.04 . 2010.04
Pampero Pantalon de combate price: 168.00 .. 134.00 .. 105.00 ... 69.00 ... 65.00
It is amazing people put up with this nonsense every 10 years.
That was a wizard of a leg pull! :o)
Mind you, I bet Blind_Scottie_Kirchnerist already has it down as irrefutable proof of the agents against TMBOA.
LOL
HOLY 5HIT! Argtards you have one hell of a problem, look on the bright side at least you have a bronze medal so far.
Fortunately the cure is very simple, somewhat painful but easy and quick to carry out and the results come within 6 to 12 months.
MIlton Friedman said MV=PQ Money supply, velocity which it circulates equals prices, quantity of expenditures.
This is all the CFK admin needs to know = if you increase the money supply prices go up, simple.
Oh Milton you're my hero.
'Pampero Pantalon de combate' are 'Combat trousers' (6 pockets) made by the firm “Pampero” in Argentina, of an excellent quality, which is unusual in Arg. - wear them most days and I can assure you they are not nappies/diapers :-)
If you have 100 dollars and 50 widgits(money supply and GDP)....you have 2 dollars per widgit. Increase money supply to 150 and remain at 50 widgits, you now have 3 dollars per widgit. However if production increases to 75 widgets, you still have 2 dollars per widgit.
The velocity formula is based on all things being equal and does not account for changes in production.
I think we all know the answer to that question except maybe Axel...
“The velocity formula is based on all things being equal and does not account for changes in production.”
And what happens when things are not equal? To provide the extra exports (because the price is more attractive), you need greater imports (think of the auto industry that have to import most of the components) and they cost much more.
The value added element of the vehicle is now greatly reduced, as is the profit. With the increased cost of utilities (inflation) and wages (ditto) the profit falls even further.
Given that the profit in auto manufacture is critically dependent on volume, I am not at all convinced that the 'additional' exports will in fact cover the additional costs.
'Busy fools' comes to mind. More work for the same or less real monetary value is going backwards, surely?
Don't forget the other side of the coin. Brasil, Argentina's biggest customer for autos is cutting back dramatically on demand. Hate to rain on your parade but I can see tears ahead.
The cnut Brown was a proponent of Keynes. Keynes works well when things are hunky-dory, Keynes only has one answer to a depression (which is what we all have) and that is to effectively increase the money supply by printing it, which increases indebtedness, which leads to bankruptcy (or default for countries).
Keynes is most certainly NOT my hero.
While I do not consider myself an economist as everyone in these blogs apparently are, I do not believe in the......“filed of dreams” theory. I was curious as to what your economic dissertation was on?
You do realize that in my post 27 I was merely stating a fact that increased money supply does not always create inflation.
At what point do the people say enough? 160% inflation? Empty grocery store shelves? What is the breaking point? 10/1, 15/1?
I guess we shall see in the very near future.
When more than 60% of the population did not vote for this awful person, you have yo wonder what the break point will be OR if there will ever be a break point.
It seems utter madness to many of us that such a mineral rich country with beautiful scenery, the equal of anywhere else in the world, is so poor in this age. 40% of the population are living in shanty towns devoid of basic amenities such as water, sewers and in some part, electricity.
Only a forward looking regime, able to provide plenty work opportunities and modern housing at reasonable cost, seemingly unheard of in the history of the country until you consider where Argentina was in the world around 1900 - 1920.
I wonder just how much of that success was due to the British?
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