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Inflation in Uruguay remains out of target despite government efforts

Wednesday, December 5th 2012 - 19:15 UTC
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Uruguay’s inflation in November was over 9% in the last twelve months despite government efforts to contain it by agreeing a price freeze with leading supermarkets and having public utilities’ rates unchanged. Read full article

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  • ChrisR

    ”The Secretary of the Economy and Finance ministry Pedro Apezteguía insisted inflation was ‘under control’ and that “no new measure are planned”, since “we expect the December index to be flat or negative”.

    He looks so much like an argie minister I thought at first MP had the wrong picture.

    So, what excuses will he come up with when inflation rises again in December?

    Put the price of fuels up, already one of the highest petrol prices on the planet?

    This man is clearly in the same mould as his boss, the Finance Minister who boasted UTE had dealt with their overspend without the government having to pay anything: they have raised their prices!

    These clowns do not understand economics 101, never mind the financial complexities of running a country. Even if, beyond any reason, inflation flattens out he does not understand that this does not let the government off the hook.

    Inflation is a rolling 12 month average. If prices are held at their present highs for a year, inflation will be zero!

    However, the people of Uruguay will still be struggling with the prices while idiots like this start crowing how they ‘bust’ or ‘tamed’ or ‘killed’ inflation!

    WTF the average worker (six or seven 12 hour days a week) AND I do NOT count the government employees (other than medics, police and teachers) as workers will do is beyond me. Their small business owners will not be able to pay 13% wage claims and still keep the business viable.

    Dec 05th, 2012 - 10:36 pm - Link - Report abuse 0

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