The Argentine government said on Thursday that annual inflation data recorded in February, the highest since 1991, was “very bad” but insists it can meet the 60% inflation rate envisaged in this year’s budget. the President’s message says. press secretary.
Last month Argentina registered an inflation rate of 6.6% compared with January and 102.5% compared with February of the previous year, the highest since 115% recorded in September 1991. In 2022, the country finished with price increase 95%.
“The inflation data clearly looks bad, very bad, and also that it was not what was expected,” presidential spokeswoman Gabriela Cerruti said at a press conference.
The spokeswoman explained that the price increase was noted drought -worst in over 60 years-, leading to rise in meat prices 20 points, as well as for telecommunications, the tariffs for which the government cannot yet regulate.
Photo: Reuters
“We hope that the curve down plan that had these problems can somehow get back on the path that was planned, indicated, and that we will achieve this (60% annual inflation).” he added. .
Cerruti said that “there is no reproach” in Minister of EconomySergio Massa on behalf of President Alberto Fernandez, and that both are constantly talking about measures to curb inflation, which he considered the main problem for Argentines.
Price stabilization is a key challenge for the government in a year in which President electionsin which Fernandez, whose popularity has been hit hard, is expected to seek re-election.
“The government understands a situation that makes everyday life, forecasting, the state of mind about how to move after this increase, very difficult,” Cerruti said.
Reuters
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
