Argentine May inflation 1.71% and 23.85% in twelve months, according to private estimates

Tuesday, June 12th 2012 - 08:46 UTC

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Argentine opposition lawmakers unveiled on Monday the inflation index based on the analysis of nine private agencies, which in May reached 1.71%. The unofficial consumer price index has accumulated 23.85% in the last twelve months, twice the volume registered by the Indec national statistics bureau. Read full article

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Welsh Wizard
And now the government is trying to change the Civil Code so that debts that were originally in US$ can now be paid in Pesos instead. Normally this is a matter to be decided between the two parties but now it seems that a unilateral action by one party and result is a US$ debt turning into a peso debt. Is this being done so that, to meet obligations, the government can print pesos, unilaterally change their debts to pesos and then pay them? If so it will just push inflation higher up. If it isn't for this reason then I'm not clear on what the rationale is. Surely the parties should be able to decide between themselves what the currency the debt is in, especially when the currency of the debt is based on a pre-existing contractual arrangement...
Jun 12th, 2012 - 01:11 pm - Link - Report abuse 0
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yankeeboy
Other than making business illegal I can't think of any more “policies” that could drive the economy quicker into a depression.
CFK and her minions must be the dumbest dictators outside of Africa, Venezuela or North Korea.
It is tragic.
It is like watching a car wreck in slow motion.
Jun 12th, 2012 - 01:50 pm - Link - Report abuse 0
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British_Kirchnerist
This guy from the right wing (UCR) opposition let his real position slip when he said corporations were not the enemy as the government preaches. Of course they are!
Jun 12th, 2012 - 02:04 pm - Link - Report abuse 0
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Welsh Wizard
3 Whilst this guy does not have a good track record, what is your opinion on the benefits of the current high inflation rate both in the short, medium and long term?
Jun 12th, 2012 - 02:19 pm - Link - Report abuse 0
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yankeeboy
There is no solution to the high inflation. It will only get worse as they are forced to print pesos to meet salary and Fed and Provincial expenses. This is why they are pesifiying the economy. They did it with the correlito and this is just another back door way to get the same results.
Jun 12th, 2012 - 02:23 pm - Link - Report abuse 0
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Simon68
3 British_Kirchnerist (#)
Jun 12th, 2012 - 02:04 pm

WTF the UCR is LEFT-WING. You are seeing ghosts BK. the only right-wing groups in Argentina are PRO and Kirchnerism.
Jun 12th, 2012 - 02:35 pm - Link - Report abuse 0
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Welsh Wizard
Any chance that they'll try to pay Boden in Pesos? Would be very punchy but practice what you preach and all that...
Jun 12th, 2012 - 03:30 pm - Link - Report abuse 0
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Tabutos
how many holes in the boat called Argentina have they now?
Jun 12th, 2012 - 06:53 pm - Link - Report abuse 0
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