The last value that the new index used to measure Argentinean inflation show is 0.6%, but...what did the "temperature of the local economy" say about this?
The answer is that someone is making a mistake because on the day-to-day expenditure consumers find that the increase in prices in, for example, supermarkets largely exceed this change and also that we deal with scarcity for the basic products or the non existence of the first brands.
The way of masuring the C.P.I. (Consumer Price Index) was already questioned last year due to similar problems: wrong real values, differences between what was measured in the Capital city and what was going on on the rest of the Country, etc.
A good article written by Isamel Bermudez from Clarin shows some significant numbers, for example:
- For the government the purchasing power increased during 2007
- They were significant increases on salaries (an average of 25%)
- Prices are falling, for example vegetables value dropped in 33% and clothes in 12%
- The prices of the basic products only were increased in a 5.1% (In the last five months... the increase was of only 1%)
- Level of indigence moved down to a 5.9% over the total population
If we analyze these numbers, why are Argentineans complaining about their economical situation? Masochism may be? People that are never happy and always blame governments?
Someone is not telling the truth...
See you on our next talk
Prof. Lic. Fernando Julio Silva, MSc.
June 2008
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