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Brazil & Southern Cone - May 2016 (ISSN 1741-4431)
ARGENTINA ECONOMY: Inflation bites into social indicators
The cabinet chief, Marcos Peña, has admitted that Argentina is at its “worst moment” amid stubbornly high inflation and rising utility tariffs, which hits low-income sectors hardest. Peña, like his cabinet colleagues, insists that the government is trying to correct the structural distortions in the domestic economy that, if not removed now, would create an even worse situation down the line. With poverty rates on the increase, the call by President Mauricio Macri on Argentine consumers to be patient, risks wearing thin.
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