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Argentina has three annual inflation estimates: 9.9%; 23.96% and 30%

Saturday, July 14th 2012 - 01:22 UTC
Full article 31 comments

Argentina's government reported Friday that consumer prices rose by 0.7% in June. The estimate, published by national statistics agency, Indec, indicates that in the first half of 2012 inflation reached 5.1% and 9.9% in the last twelve months. Read full article

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  • Chicureo

    Cristina in Wonderland. The whole country has fallen into the rabbit hole...
    Christmas will be a joyful season for us with Dollars in our pockets...

    Jul 14th, 2012 - 02:11 am - Link - Report abuse 0
  • mastershakejb

    lol argentina has become a ferkin DISASTER

    Jul 14th, 2012 - 07:09 am - Link - Report abuse 0
  • Joe Bloggs

    It just gets funnier and funnier. What's the score Malvinistas? Is this article all lies or is hidden super-inflation the latest economic best practice?

    You all keep telling us that your Latino blooded macho Argentina is about to fuck the UK when you know that the truth is that you can't even get it up.

    Chuckle chuckle chuckle chuckle!!!!

    Jul 14th, 2012 - 08:12 am - Link - Report abuse 0
  • British_Kirchnerist

    #1 “Christmas will be a joyful season for us with Dollars in our pockets...”

    Have you no shame!

    Jul 14th, 2012 - 08:53 am - Link - Report abuse 0
  • Frank

    @ 4 ... no but we do have Dollars in our pockets.......

    Jul 14th, 2012 - 10:08 am - Link - Report abuse 0
  • Conqueror

    @5 How about a list of argie politicos with “Dollars in their pockets” or purses?
    CFK, of course, will have millions of greenbacks already packed in the suitcases. Boudou will be in a similar situation but with less. Timerman only has about $1.5 million so can probably trot off with that if he wears a long overcoat with extra pockets. When they run, will it be called 'capital flight'?

    Jul 14th, 2012 - 12:07 pm - Link - Report abuse 0
  • KretinaK

    Argentina used to have the best beef in the world, but since Nestor and Cristina Kirchner have been in power, the beef industry has been completely destroyed. Nobody should eat the poor quality and polluted beef, it's not fit for human consumption. Argentine beef loaded with hormones, drugs and chemicals that have been outlawed in the USA and Europe and they have been known to ship rotten beef for export after it's been washed with bleach and ammonia, injected with formaldehyde and red food coloring.
    Lemons from Argentina are sprayed with toxic and dangerous chemicals that cause cancer and nerve damage and injected with artificial yellow coloring because the soil in Argentina is so depleted of minerals in that the lemons grow white on the trees and have no flavor.
    Industrial products such as tools, automobiles, machinery and appliances from Argentina are the worst and poorest quality in the world. Even the chinese won't buy them. There is no industrial standard, they use the lowest quality raw materials and no testing is done before they are shipped. This has caused people to be injured by unsafe products, many people have been electrocuted by Argentine washing machines and hot water heaters that leave the factory with short circuits.
    All countries should completely avoid ALL Argentine products permanently.
    Article about Argentina signing a military cooperation agreement with Venezuela, these people are looking to start a war.
    www.buenosairesherald.com/article/105945/argentina-venezuela-to-sign-military-agreement
    Did you hear about the new “militant” movement that Kirchners are starting that will make “La Cámpora” look like a group of kids in nursery school? It's called “Vatayon”, it's a Kirchner backed group that goes into the prisons of Argentina to recruit supporters for their political movement.
    www.facebook.com/#!/vatayonmilitante

    Jul 14th, 2012 - 12:51 pm - Link - Report abuse 0
  • ElaineB

    : ) I am pretty sure most of the dollars of CFKC are already out of the country given the number of overseas trips she has taken this year. I would love to know how the left-wingers square CFKC's love of all things designer and expensive with her claim to be working for the poor and destitute. She should do a house swap with someone from the villas and live in their squalor whilst they enjoy all the trappings of her wealth in one of her private homes. C4 would film it.

    Good to see that even BK is acknowledging that Argentina is up shit creek without a paddle.

    Jul 14th, 2012 - 12:53 pm - Link - Report abuse 0
  • yankeeboy

    30% inflation and recession, you know it is actually kind of hard to get an economy to do this. I bet CFK is proud.
    Peso=Austral
    Hyperinflation is just around the corner.

    Jul 14th, 2012 - 01:07 pm - Link - Report abuse 0
  • Conqueror

    @7 Could you quit posting the “Argentina used to have the best beef” trailer, please? We've read it. We can remember it. If we think it's important. I don't need it as a reminder on every article. Apart from anything else, you are detracting from anything else you might want to say. You are starting to sound like CFK, constantly reiterating the same thing. Every time I read your id followed by “Argentina used to have the best beef in the world”, I switch off and go on to the next comment. Don't be tiresome!

    Jul 14th, 2012 - 01:09 pm - Link - Report abuse 0
  • Chicureo

    #4 Why not be JOYUS...
    Our badly needed Dollars will be gladly accepted by those who have been placed into financial ruin my CFK's mismanagement. They'll be happy.
    For me, I plan on taking empty suitcases to BA and returning with all my Christmas shopping done. (By the way BK, see my followup post about your favorite queen being serviced at the doggie love hotel in Brazil...) VIVA the witch bitch... she'd making my upcoming skiing holiday and Christmas shopping so more affordable.

    Jul 14th, 2012 - 02:51 pm - Link - Report abuse 0
  • Musky

    4@ BK
    Come on now, 3 inflation rates. Seems like even the inflation rate is suffering from inflation. BK, get yourself a new leader instead of trying to defend the disastrous and indefensible Cristina.

    Jul 14th, 2012 - 03:15 pm - Link - Report abuse 0
  • Joe Bloggs

    11 Chicureo

    What's the best way to get the most “spend” out of my dollars when next in Argentina? I expect that if I find the right buyer/ trader they'll be very keen to do business with me. We'll make a trip over there before Christmas. Where would be best? We often go to either BA or Bariloche via Puerto Montt or we sometimes pop over the border down in Patagonia. Where will I find the most desperate people offering the best bargains?

    As for BK; you do realise he is a pro-Falklands shit stirrer don't you?

    Jul 14th, 2012 - 03:18 pm - Link - Report abuse 0
  • ChrisR

    “In a worrisome sign, 12-month inflation expectations held steady at 30% for a fourth consecutive month in a closely followed monthly survey published in June by the respected Torcuato Di Tella University.”

    I wouldn't worry about a paltry 30%. By the end of the year this could very easily be 40% or more due to the self-fulfilling promise scenario.

    Once an economy gets to 30%, the sky is the limit unless drastic and effective measures are taken and adhered to by all parties.

    That leaves Argentina even deeper in the mire, can you imagine any sector of the Argies adhering to any rules set by another sector or the government?

    Jul 14th, 2012 - 03:23 pm - Link - Report abuse 0
  • Simon68

    14 ChrisR (#)

    I believe that the last time we had a similar situation to this one, it ended in the “Rodrigazo” with 160% hyperinflation.

    Sadly I don't see any way out for us at this time. I think that Kretina has left it too late to take remedial action, or even mitigational action.

    Jul 14th, 2012 - 03:53 pm - Link - Report abuse 0
  • Pirat-Hunter

    #7 lol that's because you eated the beef set aside for export, you should eat the meat for domestic consumption it will taste 100% better, all domestic consumption has no chemical or hormones in them but it does taste better then exported meat.

    Jul 14th, 2012 - 04:30 pm - Link - Report abuse 0
  • ChrisR

    15 Simon68

    Thank you Simon68 for your comments.

    I was going to put 'almost an exponential rate of rise curve' but thought the usual suspects (not people of your calibre) would not understand it.

    But I agree TMBOA may well have left it too late, but why will she care when helicoptered off to her private jet bound for the States?

    Jul 14th, 2012 - 06:24 pm - Link - Report abuse 0
  • Joe Bloggs

    16

    What a complete load of crap.

    Jul 14th, 2012 - 06:26 pm - Link - Report abuse 0
  • Max

    & 9

    You are very jabberer in the dark about matters.

    Which American Dream group are you from ?

    Jailed or not jailed !

    Let me explain what does it mean ...

    The USA has the largest prison population in the world per capita and the highest rate of incarceration .One out of every 132 Americans behind the bars.
    Not all prisons run by are run by state.Those privately run prisons make profit when the people put into jail,so they support laws that improve incarceration.

    Now ! Would you tell us which group are you from ?
    profitable or notprofitable.

    Jul 14th, 2012 - 06:52 pm - Link - Report abuse 0
  • British_Kirchnerist

    #8 “I would love to know how the left-wingers square CFKC's love of all things designer and expensive with her claim to be working for the poor and destitute”

    Easy, she's a diva queen who deserves the best of everything and knows how to get it, I don't begrudge it because left politics are NOT the politics of envy. As long as she fights for the poor we will support her. And I personally love her style, she's so chic =)

    #10 Conqueror, we are agreed!

    Jul 14th, 2012 - 07:51 pm - Link - Report abuse 0
  • briton

    Argentina has three annual inflation estimates

    Ah, but as obi one ken obi said,
    [There is another] lol
    .

    Jul 14th, 2012 - 07:54 pm - Link - Report abuse 0
  • mastershakejb

    @ 16 Not only is what you're saying untrue and inaccurate, but it's actually the exact opposite. I was in Argentina for a few months just months ago, and the BEST meat is that which they export (envasado), and the domestic stuff is inferior quality, texture, flavor, and treatment.

    Jul 15th, 2012 - 04:44 am - Link - Report abuse 0
  • ElaineB

    @22 Yes, this is exactly what I was told by Argentines in Argentina. I still had some nice steak in the better restaurants but locals find it hard to get their hands on good quality meat.

    Jul 15th, 2012 - 12:15 pm - Link - Report abuse 0
  • Simon68

    22 mastershakejb (#) & 23 ElaineB (#)

    16 Pirat-Hunter (#) is an absolute idiot, one of the best Patagonian Supermarket chains, La Anónima, sells export quality meat (at export quality prices!!!) which is very much better in flavour and texture than their local produce.

    That said, the local Patagonian beef, which is still all naturally fed, is excelent if a little tougher than export quality.

    Jul 15th, 2012 - 04:33 pm - Link - Report abuse 0
  • ElaineB

    Maybe they meant they couldn't afford the good stuff.

    I know an abattoir owner in Argentina who has to wait for the phone call to tell her to whom she is allowed to sell the beef and at what price. No free market there and the usual 'fees' have to be paid.

    Jul 15th, 2012 - 05:05 pm - Link - Report abuse 0
  • Welsh Wizard

    @ 20 British_Kirchnerist

    That's fine, she can look “Chic” if she wants but why does she always buy foreign stuff? Shouldn't she support home grown industry like she says? La Martina makes some very nice clothes, just surprised that she doesn't actually practice what she preaches.

    @9 Yankeeboy

    First reports from inside Argentina saying that they have now gone into recession (two negative quarters of growth) this weekend. Also, 20 trains have been taken off the subte (. Metrovías have said that they can no longer afford the service the trains and keep up any maintenance repairs as they have no money. Trains will also now run less frequently to converse cash.

    Jul 16th, 2012 - 09:26 am - Link - Report abuse 0
  • yankeeboy

    26. The Arg Fed gov't is out of $. They projected growth at 5-6% and now it is negative. THAT IS A HUGE DIFFERENTIAL to make up. That is the reason they have stopped paying suppliers, insurance, provinces tax share etc.
    Their only solution is to print $. I am surprised she is holding off so long. I am not sure why but soon it will become apparent.
    Maybe she is waiting for the first signs of the peso collapse or general riots, CFK tends to act only under duress.
    I think riots are imminent, garbage in the streets, subways over capacity, police on strike, major union continuing to threaten, BA province employees not getting paid on time...all of this is coming to something and soon. One Apagon and it is probably all over for her.
    I can't wait! It is getting very exciting!

    Jul 16th, 2012 - 02:50 pm - Link - Report abuse 0
  • Welsh Wizard

    Well, I hope it holds off, for a little bit (although a quick devaluation would be v helpful) as I'm going to over there for a holiday at the end of August and don't really want it to be like 2008 all over again where I was stuck in BA trying to get down to patagonia to get married...

    Jul 16th, 2012 - 02:53 pm - Link - Report abuse 0
  • yankeeboy

    28. Pretty soon they won't be able to afford jet fuel for Aerolinas Argentina it is imported you know...
    I got stuck in TDF one time for a couple days but I was on vacation for 5 yrs so it didn't really matter. When I have friends traveling I always warn them if they go to one of the remote provinces there is a chance they can get stuck so leave yourself a few days cushion just in case.

    Jul 16th, 2012 - 03:36 pm - Link - Report abuse 0
  • Welsh Wizard

    Yup, was just saying the same thing to Mrs Wizard last night. With the strikes etc (which will only get worse) we'll need to leave a couple of days each time we want to travel...

    Jul 16th, 2012 - 04:17 pm - Link - Report abuse 0
  • British_Kirchnerist

    #26 I don't mind. Watever she thinks is most chic is fine by me =)

    #28 Thanks to Cristina's enemies. She retook control and the initiative that time, and will again =)

    Jul 16th, 2012 - 06:01 pm - Link - Report abuse 0

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