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Weekly Report - 19 September 2019 (WR-19-37)
ARGENTINA: Soaring inflation sounds death knell for Macri’s chances
President Mauricio Macri’s slender hopes of forcing a second round in Argentina’s presidential elections on 27 October appeared to be extinguished last week when inflation surged once again in Argentina. Monthly inflation in August hit 4%, according to the national statistics institute (Indec), as a result of the sharp depreciation of the peso in the wake of the heavy defeat inflicted on Macri in primary elections on 11 August. Shortly before Indec’s publication of the inflation figure on 12 September, the federal lower chamber of congress voted nearly unanimously to declare a food emergency until 2022. The senate followed suit six days later.
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