MercoPress. South Atlantic News Agency
Argentines inflation expectations remain above 30% for the fourth month running
Torcuato Di Tella University is renowned for its business administration and stats school Argentines' expectations for future inflation held steady in June, marking the fourth consecutive month in which people have expected annual inflation to total 30%.
Torcuato Di Tella University, or UTDT, said this week that the median projection for inflation over the next 12 months is 30%.
An alternative measurement, which considers the average of responses, totaled 34.9%, up from 33.9% a month ago.
The median expectation is tied for the historic record and has held this level for longer than any other point in the history of the survey, Di Tella said.
“March-June 2012 has become the longest period of time in which inflation remains at its historic maximum”.
Officially, the national statistics agency, Indec, says annual inflation totals are below 10%. But private sector economists find that figure risible and say Indec routinely cooks the books to make data appear comparatively rosy.
Indec officials deny these charges and say their data have never been better than they are now. However from the IMF to trade unions question or disregard the official estimates. Most economists say annual inflation easily surpasses 20%.
According to the UTDT survey the cost of living expectation in the capital Buenos Aires is 31.1%, which is lower than that of metropolitan or Great Buenos Aires, 35.8% and in the rest of the country, 35.2%.
This means that consumers’ expectations are 18.9 percentage points above the forecasts from CPI analysts based on the Market Expectations Survey from the Central Bank and are three times higher than those of Indec.
Top Comments
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Read all commentsYou see, when your own economists tell you your government is lying, does this not make you realise how little chance there is that we are prepared to listen to it.
Jun 21st, 2012 - 06:32 am 0But the government official figures for May are 0.8% and 9.9% for the year.They wouldn't be lying again,would they ?
Jun 21st, 2012 - 06:40 am 034.9% is horrendous and must be causing social unrest -Teamsters strike,pot banging etc.
Once the government fails to pay the public sector ,the sh*t will hit the fan.
Whilst CFK is diverting public attention with the Falklands, Argentina's economy is falling apart.
Now where is Malv? I wonder if he is going to dare to suggest the UK is finished again lol.
Jun 21st, 2012 - 09:18 am 0Got to love folks burying their heads in the sand.
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