Further slowdown expectedTuesday, July 15, 2014
INDEC to post June inflation today
June’s inflation will be posted by the INDEC national statistics bureau today, with Cabinet Chief Jorge Capitanich anticipating days ago that the month’s hike in consumer prices will come in lower than May’s 1.4 percent.
Private estimates range between 1.5 and three percent, but Capitanich said the slowdown seen since February will continue. So far this year, inflation has risen 3.7 percent in January, 3.4 percent in February, 2.6 percent in March, 1.8 percent in April and 1.4 percent in May.
Last month, Economy Minister Axel Kicillof said “we achieved a deceleration in prices due to policies that were applied by the government on food, drinks, vehicles, basic goods and hydrocarbons,” in reference to the government-sponsored Price Watch scheme, which began at supermarkets and eventually spread to pharmaceutical products and petrol at the pump.
A day after failing to meet its scheduled release of data on the country’s poverty for the fourth consecutive month in April, INDEC tried its hand at explaining the repeated omission, which had been regularly published along with the Consumer Price Index (CPI) since 1993, by citing “severe methodological deficiencies” starting with the IMF-friendly reform of its methodology to measure inflation, implemented in January.
“When the poverty and destitution index is made known again, it will be because issues of methodology and cohesion will have been resolved,” said Cabinet Chief Jorge Capitanich in April.
Since April, no further news on the return of the country’s poverty gauge has been communicated.
Herald with DyN, Télam