France Not Permitted to Ban Blood Donations from Gay Men
France Not Permitted to Ban Blood Donations from Gay Men
Judge Orders That Lottery Winnings Must be Split Between Boss and Employee
Judge Orders That Lottery Winnings Must be Split Between Boss and Empl...
S. Chelvan Named Legal Aid Lawyer of the Year
S. Chelvan Named Legal Aid Lawyer of the Year
Shariah Court Holds No Legal Sanctity
Shariah Court Holds No Legal Sanctity
Job Listings

Argentina Unveils Higher Inflation Rate

The new consumer price index in Argentina has unveiled a higher inflation rate saying that consumer prices rose 3.7 percent in January compared to the month before. According to the government, consumer prices rose 10.9 percent in 2013.  Since January 2007,  it has been reported that the government underestimated inflation and thus overestimated the country’s economic growth.

A strategist at Barclays Plc Donato Guarino, commented, “Argentina finally comes clean and prints a monster month-on-month inflation figure in compliance with the IMF,” according to Bloomberg News. The government did not publish an annual inflation rate.

Inflation is the rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Central banks attempt to stop severe inflation, along with severe deflation, in an attempt to keep the excessive growth of prices to a minimum. As inflation rises, every dollar will buy a smaller percentage of a good. For example, if the inflation rate is 2%, then a $1 pack of gum will cost $1.02 in a year.

University professor Elida Repetto, reported to The Star Tribune that, “The worst thing the government did was intervene in the statistics institute. It’s like breaking a thermometer; you never know if you have a fever. Now they’re putting out a new index. It will have a cloud of doubts over its validity.”



Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


Argentina is a federal republic located in southeastern South America. It is the eighth-largest country in the world, the second largest in Latin America and the largest Spanish-speaking nation. Argentina also claims sovereignty over part of Antarctica.

Bloomberg has reported that wages have raised an average of 24 percent annually over the past seven years, compared with average annual inflation of 9.4 percent. In addition, Argentina has seen dangerous protests in recent months as its unions prepare for annual negotiations over the nation’s pay hikes.

Image Credit: www.ibtimes.com

Did you like this? Share it:
Argentina Unveils Higher Inflation Rate by

Tagged: , , ,

Jaan Posted by on February 14, 2014. Filed under Home,World News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Full-Time Certified Paralegal
USA-FL-Fort Lauderdale

Please read carefully - Nationwide law firm is seeking a full-time paralegal to work in our Fort Lauderdale office. QUALIFICATIONS: * Valid Paralegal Certification; Florida State Bar or NALA;...