Argentina’s official inflation in 2011 reached 9.5%, following on December’s Consumer Prices Index (IPC) of 0.8%. Both percentages from the National Stats bureau, Indec are disputed by the Congressional index and private sector estimates which stand at a floor of 22.8% and 1.9%.
Argentine opposition lawmakers presented December’s consumer inflation index based in the analysis of nine private agencies, which showed a 1.9% increase over the previous month and totalling 22.81% for the twelve months of 2011, roughly double the official index.
Speaking at a press conference from Washington DC on Thursday, IMF acting director of External Relations Gerry Rice said the organization’s directors “will meet in late January or early February to analyze the progress made in Argentina’s statistics”.
The consumer price index in Argentina during the month of November increased 0.6% according to the official stats office Indec, which is less than half the percentage released by private estimates through the so called Congress inflation index.
Argentine Lower House opposition lawmakers announced on Tuesday that inflation in November had reached 1.44%, accumulating so far this year, 22.63%. The so called ‘Congressional index’ is an average of the estimates from private consultants who face heavy fines if they make public their numbers.
The International Monetary Fund (IMF) avoided replying to an inquiry required by Argentine Judge Alejandro Catania, who handles the case of the lawsuit filed by the Domestic Trade Secretariat against private consulting agencies.
IMF chief specifically excluded Argentina from its coming Latinamerican tour because the government of President Cristina Fernandez still has to comply with what was agreed last July, basically normalizing the controversial INDEC stats office and open its books to auditing as happens with all other members of the G20.
Over a third of metropolitan Buenos Aires, 34.9%, live below the poverty line which is equivalent to 4.4 million people, more than double the official Argentine government estimate, according to a paper from the Argentine Catholic University, UCA, and the local Caritas chapter from the Catholic Church.
Argentina's economy grew 7.7% in September from a year earlier, the government said on Friday, beating market expectations and marking the 25th straight month of growth.
Argentine lawmakers announced Monday the so-called Congressional ‘inflation index” for October which they estimated at 1.49% and is well over double the official Indec index released last week, 0.6%.