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Is Inflation Spiraling out of Control in Argentina, or is it just a ‘Sensation,’ as New President Claims?
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
wolfstreet.com / by Bianca Fernet /
If you’ve noticed a dramatic increase in prices this month, allow me to assure you that it is not your imagination. Inflation has accelerated dramatically since President Mauricio Macri took office on December 10. That’s a fact. The big question is whether this is a short-term consequence of removing currency controls and reunifying the Argentine peso, or a long-term trend that could spiral out of control. Argentina has an unshakable problem with inflation, or persistently rising price levels and the subsequent deterioration of the value of the currency, that will be hard for the new government to shake.
The Struggle Is Real
Estimates for how much prices have gone up vary, but this is undeniably the highest inflation in two years, since the major devaluation when Axel Kicillof became Economy Minster in 2014.
According to the Buenos Aires City Government, inflation from November to December clocked in at 4.22 percent as measured by the increase in a basket of basic food goods calculated based on the necessities of a family of four. Anecdotal and independent estimates of inflation both in the City and across the rest of the country show increases within a similar range, so for simplicity’s sake let’s take Buenos Aires City official statistics as a reasonable starting point for addressing the problem:
The post Is Inflation Spiraling out of Control in Argentina, or is it just a ‘Sensation,’ as New President Claims? appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/01/24/is-inflation-spiraling-out-of-control-in-argentina-or-is-it-just-a-sensation-as-new-president-claims/
