http://en.mercopress.com/2011/08/09...ewsletter&utm_medium=email&utm_campaign=daily
Tuesday, August 9th 2011 - 22:17 UTC
Argentina’s Congress ‘inflation index’ for July, 1.62%, doubles the official rate. The Congress index is an average of private consultants that have been scared from publicly exposing their estimates by the government of Cristina Fernandez de Kirchner and her Domestic Market Secretary Guillermo Moreno who has imposed heavy fines on those who do not abide by an arbitrary decree on the matter.
Opposition members of Congress regularly make an average index release.
The 1.62% represents an increase over the 1.5% for June and accumulates above the 23.5% of the previous twelve months to June.
However the official July inflation rate from the government’s controversial statistics office, Indec is expected to stand at 0.7%, nevertheless reflecting a strong impact of rises in food and beverage prices.
According to Economia & Regiones, vegetable prices were up 22.7% and flour and bread products, 8.2%
“Price caps on flour are not slowing down rising prices on bread because energy, labour and marketing costs are tracking inflation and rising faster than flour prices” Economia & Regiones said.
Analysts and politicians accuse the government of down-playing inflation for political gain and to save on inflation-linked debt payments...
Tuesday, August 9th 2011 - 22:17 UTC
Argentina’s Congress ‘inflation index’ for July, 1.62%, doubles the official rate. The Congress index is an average of private consultants that have been scared from publicly exposing their estimates by the government of Cristina Fernandez de Kirchner and her Domestic Market Secretary Guillermo Moreno who has imposed heavy fines on those who do not abide by an arbitrary decree on the matter.
Opposition members of Congress regularly make an average index release.
The 1.62% represents an increase over the 1.5% for June and accumulates above the 23.5% of the previous twelve months to June.
However the official July inflation rate from the government’s controversial statistics office, Indec is expected to stand at 0.7%, nevertheless reflecting a strong impact of rises in food and beverage prices.
According to Economia & Regiones, vegetable prices were up 22.7% and flour and bread products, 8.2%
“Price caps on flour are not slowing down rising prices on bread because energy, labour and marketing costs are tracking inflation and rising faster than flour prices” Economia & Regiones said.
Analysts and politicians accuse the government of down-playing inflation for political gain and to save on inflation-linked debt payments...