MercoPress. South Atlantic News Agency

October inflation in Argentina reaches 2% and 25.86% in last twelve months

Most probably Indec on Friday will release the official Indec inflation for October

Inflation in Argentina according to the so called Congressional index during the month of October reached 2% and 25.86% in the last twelve months, it was reported by opposition lawmakers.

 The congressional index is an average from private consultants which have been banned from making public their estimates by Domestic Trade minister Guillermo Moreno, who has fined some of them and threatened others with jail.

Consultants have reacted by going to court where they were acquitted of the fines and supported in their release of objective, responsible stats on inflation in Argentina, a most sensitive issue. So sensitive that Moreno has yet to comply with the courts.

The monthly release which comes ahead of the official Indec stats index is made public by the congressional freedom of expression committee, which has a majority of opposition members.

The official inflation Indec index is usually less than half the Congressional index, thus revealing the extent to which manipulation of numbers with political cronies has extended in an office that was internationally acknowledged for its professionalism.

This situation which includes playing with the GDP index has caused a rift between the Argentine government and the IMF, which has demanded new stats both for inflation and GDP expansion, a crucial index for those holders of restructured Argentine sovereign bonds.

Official inflation in Argentina is always below the two digits, despite measurements to the contrary from universities, private organizations, unions and even the stats offices from provinces that do not respond to the Kirchner administrations