simonmicheal
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Argentina Inflation Expectations Steady At 25% In July - UTDT
BUENOS AIRES -(Dow Jones)- Argentina's 12-month inflation expectations were unchanged for a fifth straight month in July, according to a closely-watched survey published by the Torcuato Di Tella University.
The university, known as UTDT, said Tuesday the median estimate of inflation over the next 12 months was steady at 25%. The average response was 28.4%, down from 32.5% a month ago.
The median expectation differs among the regions in which people were polled. It was 20% in Buenos Aires, the capital city of Buenos Aires and surrounding urban area, and 25% in the country's interior.
Inflation expectations were also different among income groups, with lower income Argentines expecting 25% inflation and upper-income consumers 20%.
The national statistics agency, Indec, said last Thursday that annual inflation as measured by its consumer price index rose 9.7% on the year at the end of June.
But most economists accuse Indec of manipulating its data, a charge that government officials frequently deny. Nearly all private sector estimates put inflation at above 20% as a result of high government spending, loose monetary policy, and a booming economy.
The gap between the public's inflation expectations and the level of inflation the government is expected to report stood at 18.6% in the survey, according to the university.
"The public expects more-than-double the inflation that the official statistics [agency] is expected to announce," UTDT said.
http://www.nasdaq.com/aspx/stock-ma...flation-expectations-steady-at-25in-july-utdt
BUENOS AIRES -(Dow Jones)- Argentina's 12-month inflation expectations were unchanged for a fifth straight month in July, according to a closely-watched survey published by the Torcuato Di Tella University.
The university, known as UTDT, said Tuesday the median estimate of inflation over the next 12 months was steady at 25%. The average response was 28.4%, down from 32.5% a month ago.
The median expectation differs among the regions in which people were polled. It was 20% in Buenos Aires, the capital city of Buenos Aires and surrounding urban area, and 25% in the country's interior.
Inflation expectations were also different among income groups, with lower income Argentines expecting 25% inflation and upper-income consumers 20%.
The national statistics agency, Indec, said last Thursday that annual inflation as measured by its consumer price index rose 9.7% on the year at the end of June.
But most economists accuse Indec of manipulating its data, a charge that government officials frequently deny. Nearly all private sector estimates put inflation at above 20% as a result of high government spending, loose monetary policy, and a booming economy.
The gap between the public's inflation expectations and the level of inflation the government is expected to report stood at 18.6% in the survey, according to the university.
"The public expects more-than-double the inflation that the official statistics [agency] is expected to announce," UTDT said.
http://www.nasdaq.com/aspx/stock-ma...flation-expectations-steady-at-25in-july-utdt
