Argentina among select group with the highest inflation in the last fiv-year period
Argentina is among the world’s countries which experienced the highest inflation in the last five years based on average data from the country’s private consultants and the IMF. The double digit inflation was estimated at 21.3%, an approximate average for the 2008/2012 period, and compiled by IERAL an Argentine business think-tank.
It is a well known fact that the inflation and GDP info released by the Argentine government stats office, Indec are not considered reliable and have been questioned by the IMF and World Bank.
Indec has sustainedly reported in the last five years one-digit inflation.
The other countries that share the privilege of the highest inflation include the Democratic Republic of Congo, Ethiopia, Byelorussia, Sudan and Venezuela. The three African countries are involved in serious armed conflicts and Byelorussia in considered the last remaining dictatorship in Europe.
IERAL points out that 83% of the world’s countries had an annual inflation of one digit while only 17% two-digit inflation.
The think-tank also argues that 84% of world countries experienced an average medium positive expansion in the last year, while the remaining 16% (29 countries) faced recession and serious contractions of their GDPs.
In the five-year period Argentina takes off in 2008 with 6.8% growth and ends with 2.6% in 2012. In 2010 and 2011 expansion rates were above 8%, but only 0.8% in 2009, according to the data compiled by IMF.
“Some countries did not grow much with low inflation, but others with one-digit inflation expanded robustly. What is difficult is to find countries with two-digit inflation with economies that expand”, argues IERAL.
Likewise the group of countries, mostly emerging economies with inflation in the range from 5% to 10% approximately two thirds expanded above the world average.
However 66% of countries with inflation 0 to 5% expanded below the world average which was 3.1%. But this is attributed to the fact that the group includes a majority of developed economies which during the last decade expanded less that emerging economies or simply have been in recession for most of the five years (2008/2012) because of the still unsolved consequences of the financial crisis.
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48 comments Feed
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ButtPiratHunter will insist that Cristina's model is the “best” and that she's the best president that Argentina had in 40 years, even though he's in Canada.
I would be humiliated to the core if I lived in Argentina.
well at least she has secured the protection of Chubby chavez when the time comes to flee Argentinas baying mob.......Oooops!
this would explain her erratic panic stricken behaviour, face the music peronist!
They have been lurching from one crisis to the next for a decade! Unfortunately for CFK everything and I mean EVERYTHING is coming to a head at the same time.
Remember once IMF redoes the Inflation and GDP numbers CFK/Arg will be on the hook for fraud and an estimated underpayment of Inflation linked bonds of U$ 20 Billion!
They have delayed, hid, lied as much as the world can tolerate and when it crashes it will be spectacular!
I just cannot see the final scenario in my mind yet: will she make it out with Cream Bun Man or will they be jailed (don't think so) or will they be eliminated (could very well be)?
Keep watching folks. It's a bit like the old Saturday morning picture show when I was a kid, but this is for real!
O Happy days!
It is the beginning of 2013.
Does anyone care to predict when this “imminent” crash is going to happen, give or take a few months?
If the world has “tolerated” as much as it can, and can tolerate no more, then Argentina's crash should be soon, no? When?
Well done Argentina and its democratically elected government!
who knows keep up the ignorance and you may end up top of that sh*t pile :))
looking forward for this sh*t to hit the fan, for sure !RED CARD!
@16 I'm expecting the crash before the end of the year. We'll break out the pints to finally be rid of Queen Botox.
www.indexmundi.com/g/r.aspx?v=66
”UK among the select group with the most woeful rate of growth in 2011 (chart above), and the last five-year period”
UK 183 of 216.... hahahahahaha.
Edged out in a tight race by SAN MARINOG and COCOS ISLAND. :)
But at least you barely squeeled by Madagascar.
UK! UK! UK! lol
My guess is hyperinflation next year, they're already expecting 36% and I think that is underestimated after the coming devaluation.
HAHAHAHAHAHAHA.
www.indexmundi.com/g/r.aspx?v=66
Tough fight to get that ranking yankeeboy in 2011? Those Chadians and Saint Martians are some formibable competition?
Too bad you coudn't prevail against the economic juggernaut of Kiribati.
hahahahahaha
Just remind me who that paragon of virtue is that publishes your country matrices: OH YES, it's INDEC!
SO, you have no clue WHAT the figures are other than they will be a figment of TMBOA imagination.
The rate of inflation in Argentina for January is expected to exceed 3% and the forecast for the year 2013 is at least 30%
So if it so much easier to beat inflation how is Argentina managing to make a mess of it ?
www.youtube.com/watch?v=9_5_AD9wXuY
Better get to work and stop posting here yankeeboy... Cocos Island is on your tail!
Do you think your daddy is going to get a 40% raise this year? I doubt it. Even then it won't keep up with the Peso depreciation. I guess he needs to shoot for a 60-70% raise just to keep even in U$ terms.
hahaha
You are a fool if you think it can take decades for a collapse to happen, especially when your economy is so leveraged. Once the vicious cycle stops, it can't be stopped and the collapse can ensue in very short order.
Enjoy your lunch.
You can only point you invalid fingers at the developed world, the onethat you have NEVER experienced first hand and wish it to recede, but it won't. You can never contribute to the topic of the article because is is too complex for your comprehension, you you resort to diverting the negative context of the shit vortex that asslips has created.
Looks like more rain in Buens Aires.........damn soy will never get in the ground.......bad for an agrarian economy.
How does it feel to be worse off than Cocos island?
I have no problem with your manipulation of figures/facts, if they suit your purpose/argument, so be it.
I know and accept that my country is not in its best shape and that actions need to be and are being taken to correct this, I do not blame the rest of the world for our problems, they are own fault for spending money that we don't have through mismanagement.
We however are trying to correct our own problems.
Inflation steals future growth.
It erodes savings.
It depresses purchasing power.
It lowers productivity.
And worse with a fixed exchange rate it destroys export industries.
And it can eventually lead to a wage spiral which is definitely not easier to solve.
Argentina's inflation problem is NOT easily fixed otherwise it would have been and they wouldn't be lying about it.
You just can't argue.
On a side note, is it just me or did all the trolls just return from Christmas break? You would have thought they had more time on their hands rather than less over the past two weeks.
@31
But everyone here is saying things are better in Zimbabwe than Argentina... checked their wages and inflation?
I guess when it is time to compare Argentina to Europe... standard of living applies (so you can disparage Argentina). When it is comparing Argentina to the rest of Latin America, and Asia ex-Japan/South Korea, and Africa, and most of the middle east... then it is growth and inflation that count.
You see, you are all a bunch of losers that only care in painting Argentina in the worst possible light and that requires changing the rules of comparison and being a bunch of hypocrites, confabulators, and outright liars.
Inflation, as Anglotino stated above in 4 major effects of of inflation is bad in any economy. The 5th is it then starts effecting hiring, then ultimately slows, and like argentina, negates growth in GNP. You just spew out vomit because you can't argue for inflation.....you can't argue period....only type to feed your ego. When you feed and survive off your momma's teats, inflation is meaningless to children like you.
”I guess when it is time to compare Argentina to Europe... standard of living applies (so you can disparage Argentina). When it is comparing Argentina to the rest of Latin America, and Asia ex-Japan/South Korea, and Africa, and most of the middle east... then it is growth and inflation that count.”
Well I don't have room for the whole world but let's just concentrate on South America shall we?
Year on year growth in GDP as reported at the end of the last quarter:
Argentina 0.6%
Brazil 0.9%
Paraguay 2.0%
Colombia 2.1%
Guyana 2.8%
Uruguay 3.0%
Bolivia 4.42%
Suriname 5.0%
Ecuador 5.2%
Venezuela 5.5%
Chile 5.7%
Peru 6.5%
Lower than every single country in South America.
Inflation (the real rate not the pretend rate) is higher than every country in South America. Chile, Peru, Guyana and Colombia didn't even break 3.0%.
“You see, you are all a bunch of losers that only care in painting Argentina in the worst possible light and that requires changing the rules of comparison and being a bunch of hypocrites, confabulators, and outright liars.”
You are the one that just painted Argentina in a bad light not me. You stated a fact that is plainly wrong. I can hardly be a hypocrite, confabulator or outright liar after disproving your claim as false.
When are you going to get it? You CAN'T ARGUE.
”you lie when things are going well (like now)“
Don't you get it? Things are not going well. People have been trying to tell people like you for years that it wouldn't end well. I have stated facts that prove Argentina now has he lowest growth and highest inflation for the entire South American continent. No unfair comparisons to developed countries as per your request.
”Those are the facts.”
You are trully quite new at this aren't you? I will indulge for one second and assume your numbers are true (which I don't believe, read above)... Do you base an entire country based on a lone QUARTER?? How about using something more reliable, you know, something like the last five (5) years?
Oh, that's right, if you used the last five years you would fall into zugswang, and forced to flip upside down that [invented] chart of yours, because Argentina would be the nation witth the most growth of them all.
So pehaps, just perhaps, Argentina's growth was lower than the others because it had grown faster in the prior quarters? (indulgence of your unsubstantiated facts OVER)
Is that not the exact same excuse you Antis utilize to justify lower growth by the UK, USA, Europe, etc?
To recapitulate, you want to accord that expiatory explanation for the 1st world (the “we are richer and thus cannot grow as fast as poorer countries”), but you deny the same function to Argentina.
How objective of you...
Finally, Argentina's growth last decade is based out of a much higher per capita income than Peru, Ecuador, Bolivia, Colombia... even Venezuela, Brazil, and Uruguay. So our growth rate is even thus more laudable, if you had any shred of fair-mindedness, because the starting point is higher.
And you can't change any of the apodictic argumentation above.
Full marks for finally attempting discourse, even with the insults.
With only 2000 characters I cannot provide all the information I would like. My stats come from the statistical agencies for each country listed-feel free to refute them but they are fact. Also as far as I am aware, only INDEC is being accused of providing false growth figures at the moment.
“Do you base an entire country based on a lone QUARTER??”
I clearly said “Year on year growth in GDP as REPORTED at the end of the last quarter”.
As for the past 5 years, you are clearly hoping to show a trend; there’s none. Argentina did indeed grow quicker than many but this has now finished while others are actually accelerating. In your neighbourhood you are now ranked 12 out of 12.
“before 2010 the economy grew fast with relatively mild inflation.” We kept trying to tell people such as you this was coming, but you won't listen. I never said every economic policy of the Argentine government was wrong but they have lead to this, so it is clearly their fault.
Argentina is starting to suffer stagflation. It has quite literally stolen its future growth to bolster past growth.
”perhaps, Argentina's growth was lower than the others because it had grown faster in the prior quarters?”. Argentina went from the fastest to the slowest growing economy in SA-that is a major slowdown.
And developed countries don’t need to grow as fast. 1.5% growth on a $1.5 trillion economy is better than 4% on a $0.5 trillion economy. Basic math, especially considering Argentina is not rich and not a developed country. It is absolutely declining compared to most other countries and has been for decades now. Chile is more developed & growing faster, Uruguay & Brazil are fast catching up and Peru & Colombia are slowly making inroads. Argentina was top of the pack and but is heading to the middle.
Argentina’s frequent economic crises keep resetting the clock while others keep plodding along and catch up. Who is to blame?
So now, having claimed that the UK has been in recession for the last five years, you now post figures that clearly show growth? I do love the way you are so stupid that you undermine all your own arguments. What is it like being thicker the frozen pig-shit? :-)
1/3 of the urban population lives on U$5/day!! According to Indec you are NOT considered poor if you make more than U$2.50/day!
www.clarin.com/politica/Pobreza-indigencia_0_842915711.html
Can I see some “Clarin lies” posts please
@26 You're not seriously suggesting that Nosey might have children? Surely, for the sake of the world, it should be sterilised? I have a cleaver!
@35 Argieland “tolerates” inflation because it can't do anything about it. It is brought about by the “waterfall” of corruption and theft. Right at the “top” is El Presidente. Intent upon increasing her “personal fortune” to US$200 million at least before she has to escape. Next step down is the rest of the government. Fairly capable but hamstrung by the fact that CFK gets first dip. However, “personal fortunes” do tend to be in the hundreds of thousands of dollars. Notably, few, if any, members of the “government”, including El Presidente, are actually able to account for the sources of their money. Next in line are the owners of major businesses. Their money is more accountable. Usually acquired by increasing prices by, considerably, more than the rate of inflation. In order to maintain a proper “margin”. Next step “down” are the owners of smaller businesses. They attempt to follow the example of the owners of major businesses. However, their profiteering is constrained because their prices are more subject to observation by ordinary people. Right at the bottom are the “ordinary” people. They are mostly committed to tax evasion and failing to pay bills.
@37 Here's a couple of FACTS. You are a bunch of lying thieves. And thieves shouldn't prosper. Especially when they are genocidal war criminals as well. But you are right, to an extent. We do want to see you do badly. Because that way lies safety for people who matter. Have you considered ceasing to lie and steal, or attempting to steal? Have you ever noticed the differences between the responses to you and, for example, those to Simon68? Simon demonstrates intelligence, reasonability, responsibility, thought. What do you display? The exact opposite. And so you are judged.
To see that wage going from decent to poverty in a reflectively short time period is frankly quite astonishing.
What does one wear when one is 'boaring'?
Why am I always the last to know?
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