MercoPress. South Atlantic News Agency
Argentine ‘non official’ February inflation: 1.65% and 22.75% in twelve months
February inflation in Argentina according to an average of private agencies which is released monthly by members of the Congressional opposition was 1.65%, climbing to 22.75% in the last twelve months. The official Indec inflation is scheduled to be released next March 13. Read full article
Comments
Disclaimer & comment rulesChuckle chuckle. Talk about shoot the messenger.
Mar 09th, 2012 - 06:47 am - Link - Report abuse 0Why do the good people of Argentina put up with this sort of incompetence?
Since the Argentine Stats office Indec five years ago, under former president Nestor Kirchner, had its professional staff removed and replaced by political cronies, the gap between the two indexes has soared: while the official Indec 12-month percentage is below two digits, the so called Congressional index has always been in the twenties.
22% is still under the 27-30% most have been predicting for a couple of years.
Mar 09th, 2012 - 07:54 am - Link - Report abuse 0China and Brazil have slowed significantly, so that may be playing a role. Argentina's economy was cooled down by the United States economic crisis in 2009, which allowed the last two years of strong growth based on consumer stimulus. Now if China and Brazil slow down hard, they can slow down Argentina without CFK being either forced to do it or just boing past the boiling point.
So ironically, the slowdown elsewhere in the world could be beneficial for Argentina in the medium term beyond the short-term slump in exports that brings. It may allow yet again, another year of two of growth without inflation really becoming fatal.
Anyone surprised? Although what does surprise me is many posters on here openly support CFK even though she blatantly lies to them, the UN, the EU and pretty much every global body including the IMF.
Mar 09th, 2012 - 08:04 am - Link - Report abuse 0I wonder what will happen when the IMF's 180 days are up to get real about the figures? (Probably nothing would be my guess with the IMF).
2 - This estimate prob has a plus or minus added factor, should imagine plus. Dont think any country should see an estimated 23% inflation rate as ok. Its pretty bad, if RG's gave an accurate report and stopped telling fibs we would have more to work on. shame
Mar 09th, 2012 - 08:14 am - Link - Report abuse 0@2 I personally think it's hilarious how Argentinians trust Thin Nestor Sr, even though he put his Mafiosa into positions where he could manipulate the truth, thereby making him untrustworthy.
Mar 09th, 2012 - 09:23 am - Link - Report abuse 0Kind of like living in a box of contradictions there.
2 tobias
Mar 09th, 2012 - 09:45 am - Link - Report abuse 0You make a fair and relevant point. However, I expect that a slow down in exports will hit the country harder as it will not allow for wage increases, capital flight will continue and there won't be enough $s paid pay down debt. Cristina has built her popularity on growth and the ability to pump money into people's pockets via an enlarged state subsidy system and her “new” economic model. This has been fuelled by growth which, in tern, as come around as a result of one of the largest commodity bubbles we have seen recently. Bursting this bubble will mean that the tap to the Argentinean is turned off.
I think Cristina would prefer higher inflation rather than a global slow down
Furked argentinian economy is furked.
Mar 09th, 2012 - 12:46 pm - Link - Report abuse 0you cant polish a turd...:)
Mar 09th, 2012 - 12:51 pm - Link - Report abuse 0@8 Arguably you could if you froze it first, or dried it out and put it into lacquer... but afterwards, what purpose would it serve?
Mar 09th, 2012 - 01:31 pm - Link - Report abuse 0Will Mercropress ever do something about the trolls? The funniest part is they really think they come off as clever, but they are placing the education of the countries (whatever that maybe) in the gutter.
Mar 09th, 2012 - 02:32 pm - Link - Report abuse 0@10 u mad bro?
Mar 09th, 2012 - 02:36 pm - Link - Report abuse 022.7% inflation and only 1% growth only means one thing - the RG economy is in a bit of bother.
Mar 09th, 2012 - 02:50 pm - Link - Report abuse 07 GreekYoghurt
Mar 09th, 2012 - 03:31 pm - Link - Report abuse 0That's a bit deep for you isn't it??? LOL I am sitting here beside myself, beathless and gob smacked at the rapier like Succinctness of your posting.
Did you see that? I nearly sounded intelligent... god I need a beer...
9 - My grandad would be mortified that was his fav saying. But yes it could be done couldn't it. Its use??? a paper weight to be presented to Reichmistress.
Mar 09th, 2012 - 06:47 pm - Link - Report abuse 0@2
Mar 10th, 2012 - 03:36 pm - Link - Report abuse 0-22% is still under the 27-30% most have been predicting for a couple of years.-
Well 22% is alright then.... In Britain we are worrried that inflation is at 3.75 %
- ....which allowed the last two years of strong growth based on consumer stimulus....
probably more to do with people buying everything on credit (in Argentina typical credit rate is almost 50%). Utterly unsustainable. Big crash coming.
Electrical items (amongst many other things) - TVs, fridges, computers etc cost twice as much as they do in Britain. On top of that the average Argentinian earns about a 1/4 of what average Britain earns. Therefor in real terms a tv will cost an Argentinian about 8 times more than it does for a Brit.
Dont bother importing anything into Argentina. You will be slapped with a 50% import tax by the crooks in power.
Im not a great consumer but this is more about sustainability of the economy, consumer freedom to buy whatever item at a sensible price and of course corruption.
When you sign a property lease in Argentina its typically for 3 years with an agreed annual rise in payments of 20 - 25%. People expect (and take advantage of) inflation. Its just a vicious cycle
Seriously, Argentina needs to get its shite together. Stuck in the past and going nowhere fast
@15 That's not likely to happen. And when you say stuck in the past, I think you mean in 1833.
Mar 10th, 2012 - 05:21 pm - Link - Report abuse 02 tobias
Mar 11th, 2012 - 06:00 pm - Link - Report abuse 0I am one of the one predicting the value of inflation will be 25 - 30% by the end of July this year.
I have been saying that for 7 months and I see no reason to alter it, except perhaps to raise it.
There is a saying in the UK: a week is a long time in politics. SIX months is an eternity. Just wait it will come, as I have predicted.
Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!