Argentina’s government grows bizarre; inflation, as per them, rocks!
Argentina is bleeding. The sky rocketing inflation is neutralising whatever benefit the high growth rate is giving its population. But surprisingly, to counter this problem, the government has taken bizarre steps to satisfy its electorates. It has doctored Consumer Price Index (CPI) to show inflation lower than what it actually is. The updated CPI (June 10, 2008) shows that each time the price of any product increases too much, it will be taken out from the list presuming that consumers will shift to other products. According to government statistics, inflation is just around 9%, whereas the real figure is terribly higher.
Alfonso Prat-Gay, former Central Bank Governor, estimates the inflation figure to be hovering around a whopping 32%. Dante Sica, Director of Abaceb, a consulting firm, opines that the figure would be 16% to 18%, while Poliarquia, a pollster, reveals the figure was 54% in February and 26% in May, 2008.
Argentina is bleeding. The sky rocketing inflation is neutralising whatever benefit the high growth rate is giving its population. But surprisingly, to counter this problem, the government has taken bizarre steps to satisfy its electorates. It has doctored Consumer Price Index (CPI) to show inflation lower than what it actually is. The updated CPI (June 10, 2008) shows that each time the price of any product increases too much, it will be taken out from the list presuming that consumers will shift to other products. According to government statistics, inflation is just around 9%, whereas the real figure is terribly higher.
Alfonso Prat-Gay, former Central Bank Governor, estimates the inflation figure to be hovering around a whopping 32%. Dante Sica, Director of Abaceb, a consulting firm, opines that the figure would be 16% to 18%, while Poliarquia, a pollster, reveals the figure was 54% in February and 26% in May, 2008.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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