New York Times warns about Argentina’s inflation

“High inflation — a weakness of the Argentine economy for decades — is soaring again,” reports the article signed by the journalist Alexei Barrionuevo.

According to the analysis made by the US newspaper, “food-price increases began to outstrip wage increases in 2010.”

As a consequence, Barrionuevo assured that “middle and upper classes are leaning more heavily on credit cards, helping push up levels of personal debt.”

The journalist also said that the inflation questions the “social inclusion,” which is one of the main issues of President Cristina Fernández de Kirchner’s administration.

“Mrs. Kirchner insists inflation is not a problem, even in the face of substantial evidence presented by private economists and local officials that the government’s national statistics agency has been grossly underreporting inflation and poverty for four years,” he continued.