November 1, 2014
Moreno blasts private financial consulting agencies for 'inaccuracies' in inflation rates
Domestic Trade Secretary Guillermo Moreno accused two private financial consultants –Efimak and Abeceb.com - as well as the Business Leaders Association for alleged inaccuracies in their inflation rates.
Efimak "will have to give an explanation" regarding their methodology to measure inflation.
Abeceb.com will also have to explain "how they measured the monthly consumer," and the Business Leaders Association will be asked on their method to draw up the yearly inflation rate.
According to a study by the National Statistics Bureau, the financial consultants, “incurred in inaccuracies and miscalculations while drawing up inflation rates that were later released to media outlets”.
Moreno considers that they failed to comply with the 9th article of the Commercial Loyalty Law.