Loading ...Milei — more success (at least less pain)
The 13.2-percent inflation rate recorded in INDEC’s extensive February report is lower than the 15 percent analysts were forecasting hours before the announcement, and much lower than January’s 20.6 percent and December’s 25.5 percent.
progress, but still more to go.
Milei, in a Wednesday morning interview with Argentina’s Radio Mitre, said February’s numbers were “a tragedy” and admitted that March will be a month with “a deeply complicated seasonal nature.”
The Argentine president nevertheless stressed that the inflation in February must be placed “in context,” as he received an economy with an assured risk of hyperinflation.
“When the Government took office, the daily inflation rate was traveling at 3,700 percent per year; during the second term it accelerated to 7,500 percent,” Milei explained. “When one takes the wholesale inflation figure of 54% in December, annualized it is 17,000 percent.