MercoPress. South Atlantic News Agency

Argentine ‘Congress inflation’ in August reached 1.89%, double the official index

Silvana Giudice from the Radical party was on the panel announcing the latest index

Argentine opposition members of the Lower House released on Thursday the dissident inflation rate (‘Congress index’) for October. The index, which was set at 1.89%, is based on reports delivered by some private consultants, which differ substantially from that release by the INDEC Statistics Bureau Agency.

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.

In August the Congress index showed inflation was 1.87% and in July, 1.62%, which means annual inflation in Argentina is running in the range of 23% to 25%.

The announcement was made at the “José Luis Cabezas” room of the Lower House, and was conducted by deputies Patricia Bullrich, Eduardo Amadeo (Federal Peronism), Federico Pinedo (PRO); and Silvana Giudici (Radical Party).

Meanwhile, the official Consumers Price Index (IPC) released by the INDEC stood at 0.8%, less than half of the one addressed by anti-Kirchnerite lawmakers.