Tag: Indec indexIndec index
Fiat Argentina CEO Cristiano Rattazzi said that Argentina is on fire because of inflation and called on the newly appointed cabinet chief Jorge Capitanich and Economy minister Axel Kicillof to work hard to bring inflation down.
Argentina's economic activity grew 4.7% in September compared with the same month last year, according to the government's much questioned stats office, INDEC. Market expectations were in the range of 3.9%.
The International Monetary Fund said Wednesday it will review Argentina's progress on improving its economic statistics in December, after censuring the country last February for supplying poor data.
Inflation in Argentina according to the so called Congressional index during the month of October reached 2% and 25.86% in the last twelve months, it was reported by opposition lawmakers.
International Monetary Fund announced it was holding constructive talks with Argentina about addressing flawed economic data that led to an unprecedented IMF censure of a member country.
Expected inflation in Argentina for the next twelve months is on average 31.3% according to the monthly survey from the Torcuato Di Tella University, UTDT. However the monthly expectation dropped 1.6 percentage points compared to September in all regions of Argentina.
The Argentine government official Consumer Prices Index climbed 0.8% in September over August and reached 7.4% in the first nine months of the year, according to the National Stats Institute, Indec.
Argentina’s “Congress” Consumer Price Index which is an average of private consultants and is released by opposition lawmakers, showed that inflation in September increased 2.11%, the highest September since 1991, accumulating 25.44% in the last twelve months.
IMF forecasts higher growth for Argentina this year, but reliability of official stats remains controversial
Argentina’s growth has recovered because of an abundant crop but economic activity continues to be contained because of the exchange rate and other administrative controls, according to the IMF latest World Economic Outlook (WHE), Latam and Caribbean chapter released on Tuesday. The IMF statement refers to Argentina’s export duties and the so called ‘dollar clamp’ which bans even saving in US dollars.
Argentina’s trade balance collapsed 60% during August compared to a year ago because of stagnant exports and the doubling of energy imports according to the latest release from the government’s stats office, Indec.