2023-09-13 21:32:46
This afternoon the number of the inflation corresponding to August and is expected to be above double monthly digits.
In this context, we communicate with the economist and consultant Ramiro Castiñeirawho spoke about the country’s inflationary situation and its parallels with other historical moments.
Inflation through the roof
“We are projecting 11% inflation for this afternoon, which puts us at 121% year-on-year”said Castiñeria, who then completed: “We are returning to three annual and two monthly digits again.”
“In the first week of September, inflation was 7%; double-digit inflation is expected again in September,” the expert explained. “We are experiencing a currency collapse“The only one that generates inflation is the State because it is the one that generates the monetary issue,” he added.
Along the same lines, the economist said that two billion pesos are being issued per month to finance the Leliqs and another half a billion to finance the fiscal deficit. “At this rate, we are going to reach 200% annual inflation in no time,” he added.
“In developed countries, we are already in hyperinflation”said the expert. “We think that a 5,000 percent price increase is needed for hyperinflation to occur,” he explained.
Then, the economist explained the similarities of the current situation with the rodrigazo: “There were parallel exchange rates and prices until it was unsustainable“When the variables were released, everything ended in an inflationary flash.”
Finally, Castiñeira said that this economic model can only lead to poverty. “The bureaucrat decides who can do business in the countrythe rest of the Argentines remain marginalized and increasingly poorer,” he concluded.
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