February’s official inflation figure showed a slight improvement on that of January: from 3.7% to 3.4%. A Reuters poll had expected 4.2% for the month. Given the Argentine government’s reputation for tinkering with its official statistics, the lower figure prompted some scepticism among market watchers. Still, even if taken at face value, a rate of 7.1% for the first two months of the year, which is projected to turn into an annual rate of well over 30%, is bad news for the government as it continues its wage negotiations with labour unions.End of preview - This article contains approximately 781 words.
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