Quarter of the way to hyperinflation: INDEC Reports 12.4% Inflation in August

[Quilombo]

Hold on to your wallets folks, we've finally returned to double digit inflation, and September is expected to be similarly bad.

Tras la devaluación, la inflación se disparó a 12,4% en agosto y fue la más alta en más de 30 años

La suba de precios luego del salto del dólar tras las elecciones internas y la generalización del impuesto PAIS a las importaciones a fines de julio impactaron fuertemente en el valor de los alimentos; acumula 124,4% en doce meses

www.lanacion.com.ar

 

[toongeorges]

12.4% inflation per month means because of compound interest rates more than 300% inflation per year. Things won't improve in the short term. 5000 USD per peso in 1 year time if things go well?

Not having high denomination notes in circulation will complicate things further.

 

[toongeorges]

12.4% inflation per month means because of compound interest rates more than 300% inflation per year. Things won't improve in the short term. 5000 USD per peso in 1 year time if things go well?

Not having high denomination notes in circulation will complicate things further.

I meant 5000 pesos per USD...

 

[Quilombo]

I meant 5000 pesos per USD...

I assumed as much haha.

We'll have to see how the market reacts today, but I have a feeling it was already baked in to the price, though I've been reading the guestimate is 12% again for September.

 

[FrankPintor]

I'll guess 9 or so, a single digit, at least. As long as Milei shuts up, and there are no more shocks this month. August's jump would have been due to simultaneous increases in the official and Blue Dollar rates, which fed straight through to prices.

 

[Redpossum]

Back up to 735 already. Any guesses about end of September are probably moot at this point. The political insanity overwhelms all common sense.

I will say this for Massa, he's not going to go down easy. And Kicillof seems to be ahead by a bit in La Provincia.

 

[Quilombo]

Looks like the market priced this in already, that, or the government has been dumping dollars in the MEP and CCL market as usual to ensure plan llegar truly does arrive.

My money is on 10%-12% for September, that seems to be how much things are costing more than the end of August, though other prices are just wild like food.

 

[carride]

I will say this for Massa, he's not going to go down easy

Now this gift to many from Massa. Credit of $400k pesos at 50% interest, which can then be deposited into a bank plaza fijo CD giving a return of 113%. Or is there some fine-print that needs to show a factura proving you spent the money on bricks, cement and sand, or a new TV?

https://www.anses.gob.ar/nuevo-credito-para-trabajadores-en-relacion-de-dependencia