Posted on 06/03/2022 9:09:34 PM PDT by American Number 181269513
Analysts consulted by Argentina's central bank raised their inflation estimate for the South American country for 2022 to 72.6%, 7.5 percentage points above the previous month's forecast, according to a monthly survey published Friday.
Meanwhile, inflation for the month of May was expected to have been at 5.2%, according to the central bank's monthly Market Expectations Survey (REM).
The poll surveyed 41 analysts over several days.
The economists consulted also slightly cut their economic growth projection for Argentina in 2022 to 3.3%, a contraction of 0.2 percentage points.
Latin America's third largest economy has been suffering from extreme inflation for years, and has been aggravated by the effects of Russia's invasion of Ukraine.
Argentina has just begun to emerge from a long recession.
The economists surveyed also expect the average nominal exchange rate in Argentina to hit 157.97 pesos per dollar in December.
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(Excerpt) Read more at reuters.com ...
Biden has a ways to go to catch up with Argentina but he’s making progress.
Biden: Hold my beer!
Dementia Joe is working really, really hard to catch up. With his BBB program if he can get it passed.
Such a shame. Argentina is a beautiful country with a good amount of land and natural resources....for example all the shale gas they could be fracking but aren’t.
The country could be so much more stable and so much wealthier if it were not for the idiotic politics it has had since the 1930s. Argentina used to be one of the top 10 economies in the world back then and could still be today.
Been there are was amazed when the locals said they have to put 40-50% down on home purchases. After making some progress under a Trump like businessman, they voted back in a women socialist. “Like a dog returning to it’s vomit, so does a fool return to his folly”.
Other surprise was how many were of German or Italian decent.
we are retired on a fixed income...we can cut land lines, the newspaper, cable, never eat out, never vacation but for sure the govt will kick us out of our home if property taxes keep going up, especially since we can’t even write them off anymore....
There were a few Germans who in the early 1900s settled at sites along the Andes. However, they were a drop in the bucket compared to the Italian immigration that made their home in Buenos Aires and larger cities. In fact, more Jews arrived in Argentina than did Germans. However, the anti-Semitism that emerged during the Peron epoch, and then followed, led many to leave. Yes, Argentina is a lovely place, the problem is that it is inhabited by political and economic cretins.
Did our nation vote for the POTATUS?
Guess which kind of voting machines Argentina has...
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