Argentina inflation in nine months of 2012 reached 18%, says “Congress index”
Argentine opposition lawmakers presented on Thursday September’s ‘Congress inflation index’ based in the analysis of nine private agencies, which showed a 1.93% increase against the previous month and 18% in the first nine months of 2012.
The data was presented at Congress by lawmakers Federico Pinedo, Pablo Tonelli, Paula Bertol (PRO), Ricardo Buryaile, Elsa Álvarez, Julio Martínez (UCR), Eduardo Amadeo (Peronist Front) and Patricia Bullrich (Unión por Todos).
“This 1.93% index is the highest registered in the last months. The food and beverages sector are the items that increased the most, 24%” added lawmaker Buryaile who revealed that “since 2007 the 100 pesos banknote has lost two thirds of its value”.
Lawmaker Bullrich from the city of Buenos Aires said “it is painful, but 1.93% is the highest monthly jump since 1990, when Argentina almost suffered a bout of hyperinflation”.
She underlined that the situation is “of great concern because despite the evident cooling of the economy, inflation keeps soaring”
Peronist dissident Amadeo revealed he had received a letter from a magistrate, whose name he did not reveal requesting “a copy of the Congress index which he needs for a ruling in a civil case involving a case of alimony and child support”.
“I won’t give the magistrate’s name because we don’t want him sacked, but it is evident that if he were to apply the official inflation rate delivered by Indec (government’s stats office) he would be condemning that family to a miserable situation”.
The ‘Congress index’ started to be delivered by the Lower House Freedom of Speech Committee following the administration of President Cristina Fernandez decision to sanction and fine those private agencies specializing in economic issues which made public their inflation estimates.
It has become a monthly event closely followed by the business community, unions and the Judicial branch, given the disparity with Indec official figures, usually half or a third of the private estimates.
Argentina’s alleged manipulation of crucial stats for the economy such as inflation and GDP growth have led to repeated clashes with the IMF and other multilateral organizations.
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How many “tasty tacos” can you buy NOW, Soozy-Woozy ???
btw it's empanadas there, not tacos :P much smaller than tacos
And a decent empanada there now costs nearly 6 pesos. So according to Cristina's calculations(13 pesos to eat), they can afford TWO empanadas per day ;)
Last year they were projecting 27% for 9 month (annually 35%)
Even IMF archenemy of Argentina had said the this statistics are not accurate and over played.
After 7D when “ClarinMiente” and “La Destruccion” go for scrap inflation will be reported accurately as should be.
All prices in Argentina now are quite stable and some have dropped.
What you have is NEGATIVE Growth ( Recession) and the highest inflation in the Americas.
It is call STAGFLATION.
It is the just a few steps from Devaluation, Hyperinflation and Depression.
Figures please
Care to name some more?
I hear nat gas prices are going to soar shortly
Lots of cars run on nat gas
Rut ro
Until dumburger is spending money there, he can say anything, which he does.
Soozy - Woozy uses the term “tasty tacos” in a derogative fashion, perhaps as a dig against Mexicans
@Dany
How long since you have been to Argentina.
@ general Friday ramble:
Just a couple of months now until my town is flooded by Argies on holiday, going crazy in the supermarkets and stores buying goods they can’t get at home. I have an apartment that I rent out over the summer to Argies. Contrary to what many on this forum think they are generally great people the Argies. We tend to get the ones from Mendoza and San Juan who are not as arrogant as their porteño compatriots. One thing they all have in common is that they despise CFK (much more than Nestor). It makes you realize where the CFK support base is.
The trains-
www.buenosairesherald.com/article/114000/sarmiento-train-line-service-suspended-due-to-union-conflict-
The schools-
www.buenosairesherald.com/article/114001/students-ratify-takeovers-to-march-to-city-education-ministry-
The Debt-
www.buenosairesherald.com/article/113831/all-bonds-under-national-regulation-should-be-paid-in-pesos
The dropping peso-
www.buenosairesherald.com/article/114002/us-dollar-trades-steady-at-ar$4735
And let's not forget the loss of Free Press-
www.buenosairesherald.com/article/113742/media-law-judge-tettamanti-resigns
You have overlooked the real upset of the week:
Flagship captured by American Pirates, aided by sneaky Vulture Funds, puts one over on TMBOA!
In the Riachuello with a concrete handbag would be fitting.
PLEASE STOP SPAMMING!
We get it, very very interesting, but please use more brevity.
Perhaps challenge the trolls with a sentence or two, and argue it out...
You forgot the biggest news story about the trains. When I was in Argentina, in February, a train crashed and killed FIFTY people, and injured hundreds more.
Argentine infrastructure, it's all from 1940-1970's and hasn't been maintained at ALL, still just slowly dilapidating.
18% IN NINE MONTHS.
Read a headline, they're easy!
That is 22% for the year
..unless-the speed of inflation is increasing. 24% is closer to accurate than INDEC.
U.S. is 1.7 this year ;) Good job, technocrats with numeracy!!!!
18/9*12=24% ;o)
Ayayay....no Argentine believe USA figures, they think it can be manilpulated like in Argentina. Even though the world knows it is independant of the executive and legislative offices.
More Argentine bond sell offs......really sending the yields through the roofs. The peso needs to be at 6 to a dollar by years end to keep inflation under 40%. Why are they still allowing cfk the have oxygen?
I have a wad of Argentine supermarket tickets covering April 2009 to April 2012 which shows the real inflation based on real purchases with article number, -name and price, so one can compare.
2009: 16%
2010: 18%
2011: 25%
2012: 24%
2009-2012: 212%
For a country the tells the world inflation is X, yet it hands out wages increases of Y. Wages increases are the most inline to inflation worldwide.
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