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Weekly Report - 17 January 2013 (WR-13-02)

ARGENTINA: Wage negotiations reveal extent of inflation

Officially, the rate of inflation in Argentina in 2012 was 10.8%. No-one, however, including the government, is basing any calculations on this figure. Wage negotiations between the government, the private sector and trade unions have begun with the ministry of labour declaring its intention to limit pay increases to 20%. The soaring cost of living prompted a rare acknowledgement of the problem in a speech by President Cristina Fernández de Kirchner, in which she called on municipal leaders and governors to stagger price rises to limit inflation.

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