argentina gives first inflation statistic in 6 months
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Argentina gives first inflation statistic in 6 months

Arab Today, arab today

Arab Today, arab today Argentina gives first inflation statistic in 6 months

INDEC Director Jorge Todesca (C)
Buenos Aires - AFP

Argentina resumed publishing official inflation figures Wednesday, six months after the new conservative government declared a "statistical emergency" over what it said were years of bogus data.

Ordinary Argentines don't need statisticians to tell them that the price of their beloved beef ribs is going up. But the question was just how fast.

Finally, they have what President Mauricio Macri's government calls a reliable answer.

May inflation came in at 4.2 percent, announced the director of revamped national statistics institute INDEC, Jorge Todesca.

"We are leaving behind nearly nine years in which public statistics were destroyed," he told a press conference.

INDEC did not release an annual inflation figure, saying it would take time to build back up to reliable long-term data.

Macri, who took office in December, accuses the governments of his left-wing predecessors, Nestor and Cristina Kirchner, of manipulating the country's official economic data to make it look better.

The last time monthly inflation had been released, in October 2015, it stood at 1.1 percent.

But independent analysts said that was well off the mark.

The annual inflation rate currently stands around 43 percent, according to an estimate published by Congress based on studies by private economists.

The same studies put the monthly figure at 3.5 percent for May.

Finance Minister Alfonso Prat-Gay said that after the inflation figures, revised statistics for economic growth would follow later this month and poverty estimates in September.

Kirchner stopped publishing figures for the poverty rate in 2014.

A recent study by Argentina's Catholic University estimated that more than a third of Argentines are living in poverty.

It said the number of people in poverty rose by 1.4 million in the first three months of Macri's government.

The conservative president has launched budget cuts, hiked public service tariffs and cut thousands of jobs.

His reforms have sparked angry street protests.

Macri's opponents say his policies are punishing the poor. He says they are necessary to strengthen the economy in the long term.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

argentina gives first inflation statistic in 6 months argentina gives first inflation statistic in 6 months

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

argentina gives first inflation statistic in 6 months argentina gives first inflation statistic in 6 months

 



GMT 14:30 2017 Sunday ,22 October

Abe coalition wins resounding victory in Japan vote

GMT 09:44 2017 Tuesday ,17 October

Morocco arrests 11 suspects linked to ISIS

GMT 13:09 2015 Tuesday ,09 June

Slaven Bilic returns to West Ham as manager

GMT 16:04 2017 Saturday ,30 September

Got a yacht? Proposed French tax break makes waves

GMT 13:06 2016 Saturday ,31 December

Syrian passport trade becomes unlikely cash cow

GMT 04:47 2017 Wednesday ,30 August

Mark Zuckerberg welcomes second daughter in Facebook

GMT 00:59 2014 Saturday ,07 June

January 19 - February 17

GMT 10:53 2017 Wednesday ,05 July

AU Summit gives priority to youth empowerment

GMT 17:26 2017 Wednesday ,15 February

Russian jets in ‘unsafe’ encounters with destroyer
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday