Official (fantasy) inflation in Argentina 0.8% in July and 9.9% last 12 months
Official consumer inflation in Argentina reached 0.8% in July accumulating 9.9% in the last twelve months and 5.9% in the first seven months of the year, according to the Indec statistics bureau.
Indec said the biggest price gain in July was seen in the “other goods and services” category, which jumped 3.9%. The category includes products such as shampoo, diapers and hair dye as well as notary, burial and barbershop services.
Leisure costs rose 1.7%, while household goods were up 1.1%. Costs in the heavily weighted food-and-drink sector climbed 0.6% in July compared with 0.9% in June, when overall inflation was reported at 0.7%.
However the government's inflation figures have been discredited since 2007 as too low to reflect true price growth. Private estimates tend to double or even triple the official number.
Among others the World Bank, IMF, The Economist magazine do not recognize the official Indec inflation rates and Argentine organized labour as well as independent unions admitted having their own measurement of what they call “supermarket inflation” and the basis for salary negotiations.
On Thursday Argentine opposition lawmakers presented the so called “congressional index” based in the analysis of nine private agencies and which showed a 1.76% increase in July, accumulating 24.13% in the last twelve months.
Private agencies are exposed to high fines if the release inflation indexes without revealing their methodology which is obviously questioned by the government of President Cristina Fernandez.
Latin America's number three economy is quickly losing steam after several years of sustained growth but high price rises are entrenched and annual inflation expectations hold at over 30% according to private data from the respected Torcuato Di Tella university.
Suggested Stories
-
May 18th 2013
“Blue” dollar in Argentina picks up in last day of trading and reaches 8.95 Pesos
-
May 17th 2013
Argentina’s ‘autarkic project’ worsens bilateral relations and multiplies problems
-
May 17th 2013
Argentine whitewash bill turning into ugly electoral debate
-
May 16th 2013
Argentina inflation in April was 0.7%, according to the official stats office
21 comments Feed
Note: Comments do not reflect MercoPress’ opinions. They are the personal view of our users. We wish to keep this as open and unregulated as possible. However, rude or foul language, discriminative comments (based on ethnicity, religion, gender, nationality, sexual orientation or the sort), spamming or any other offensive or inappropriate behaviour will not be tolerated. Please report any inadequate posts to the editor. Comments must be in English. Thank you.
its something when your country bases it economy on desposing of the dead, i guess thats why they stopped dropping them from planes, theres money to be made in given them a decent burial. Great outlook Tards!!!!
Anyway, who gives a shit? As long as she keeps her grubby little hands off our islands and she seems to be doing that so all is well.
Again a clever move from KFC to delude people.
im sorry you think the truth (title) is biased
How WOULD you explain the situation with the various rates? How do YOU explain it?
Chuckle chuckle.
it is.The facts are that the Republica del Cristina is going down the shithole
but she don't care as long as she gets her portion of Venezuelan pork sword
curtsey of hugo 's there....her index indicates that it's well up,I would go as far as to say,up as far as the bolivarian testes.What #nflation?
The virus is keep in check troughs heavy taxation regulations and expropriation using people that are not infected, but lately the government is forcing more of the saviors to give more so some are taking the pill that keeps the infected people alive call “Dollar” out of the country, the government of course is reacting to this action by applying heavy penalties to the saviors.
For the Center for Disease control in the US (CDC) this virus is priority, they need to find a cure before it spreads any further.
Evidence that the virus is spreading to other countries in Latino American had been found.
The only success so far was in Paraguay they think they found the antidote and is call “Common sense” and they hope neighboring countries will take this antivirus so they can wake up from the zombie state and prospers.
You forgot to mention the Avivol, produced in Arg for Brits only...
tr.v. ma·nip·u·lat·ed, ma·nip·u·lat·ing, ma·nip·u·lates
1. To move, arrange, operate, or control by the hands or by mechanical means, especially in a skillful manner: She manipulated the lights to get just the effect she wanted.
2. To influence or manage shrewdly or deviously: He manipulated public opinion in his favor.
3. To tamper with or falsify for personal gain: tried to manipulate stock prices.
4. Medicine To handle and move in an examination or for therapeutic purposes: manipulate a joint; manipulate the position of a fetus during delivery.
5. INDEC
Sure, go ahead increase the price of your export and price them out of the market. You are running out of inports to produce anything of subtance. Argriculture is all that is left, at the moment. USA is debating wether to purchase it (bio-diesel)anymore and will most likely drop the military from buying it. There's goes the price plumment on bioidiesel, yet Argentina increases the price. The few remaining products you can export you are killing. Where did you leaarn basic macro economics, Lenin University of Socialism..........or LA Campora as a propaganized youth?
www.urbandictionary.com/define.php?term=circling+the+drain
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!