What a brilliant idea, that will definitely stop those nasty prices rises.From Merco Press:
Next October Argentines will be going to the polls to vote for president and renew Congress which anticipates a rough political eight months, but before that the administration of President Cristina Fernandez de Kirchner has to weather a round of labour contracts which will be demanding strong adjustments because of the “prices distortion and dispersion” since the word ‘inflation’ has been erased from the official jargon.
However last year the official and notorious Statistics Office, Indec admitted the retail prices index was above 10%, but most private analysts, economic advisors, think tanks, universities, some provincial governments and even the Judicial in its court rulings work on estimates above 25%, because of the “distortions in some products’ prices which make up the family basket”.
Faced with such a situation an alarmed Argentine government then took the unprecedented initiative of inviting the IMF to help draft a new, reliable, consumer prices index, obviously admitting the difficulties of the current manipulation. Such elaboration is expected to take months.
Hmm looks like it didn't work, pity I was sure they were on a winner.
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