The opening of a new sovereign debt swap announced by Argentine President Cristina Fernández on national television on Monday has received strong support from allies, pledges of neutrality from the main opposition party but also criticisms.
In contrast with the 0.5% inflation reported by the Argentine government’s controversial stats office, Indec, the index based on private estimates and released by opposition lawmakers climbed to 1.23% with an accumulated 25.27% in the last twelve months.
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.
Argentine opposition lawmakers unveiled on Monday the inflation index based on the analysis of nine private agencies, which in May reached 1.71%. The unofficial consumer price index has accumulated 23.85% in the last twelve months, twice the volume registered by the Indec national statistics bureau.
February inflation in Argentina according to an average of private agencies which is released monthly by members of the Congressional opposition was 1.65%, climbing to 22.75% in the last twelve months. The official Indec inflation is scheduled to be released next March 13.
A controversy has erupted in Argentina following lawmakers vote to double their congressional income while the federal government is cutting on subsidies and expenditure and has suggested ‘salary moderation’ for the coming round of negotiations with a roof of 20%.
Argentine congress members announced on Wednesday that the inflation index for January based on an average of private sector estimates reached 1.9%, similar to the previous month of December.