MercoPress. South Atlantic News Agency

Argentina Congress inflation index for August: 1.87% (double the official rate)

Lawmaker Patricia Bullrich makes the announcement

A group of Argentine opposition lawmakers presented Monday the August inflation rate, based on reports prepared by some private consultants. The dissident index reached to 1.87%. In July the index was 1.62%

The presentation of the so called “Congress inflation index” is an average made by half a dozen private consultant companies, which under the aegis of a group of opposition lawmakers seek to avoid the monetary sanctions imposed by Domestic Trade Secretary, Guillermo Moreno to those who release statistics on price trends.

The announcement was made at the “José Luis Cabezas” room in the Lower House, and was conducted by deputies Patricia Bullrich and Fernando Iglesias (Civic Coalition); Gustavo Ferrari and Eduardo Amadeo (Federal Peronism), Paula Bertol and Federico Pinedo (right-wing PRO); and Ricardo Gil Lavedra and Silvana Giudici (Radical Party).

Meanwhile, the official inflation rate is to be released on Wednesday by the INDEC Statistics Bureau Agency. In July, the official Consumers Price Index stood at 0.8%, half the percentage of the “Congress Inflation Index” delivered by anti-Kirchnerite lawmakers.

Private estimates as well as some Argentine provincial statistics offices indexes, plus labour contracts and even judicial compensation rulings are based on an annual inflation ranging from 23% to 25%.