The official data from the National Institute of Statistics and Censuses (INDEC) that marked that the Consumer Price Index (CPI) for April was 6% and so far this year accumulates 23.1%, generated strong criticism from the opposition , a year and a half before the elections. “Galloping inflation anticipates a gloomy outlook“, they remarked.
INDEC numbers confirmed that the interannual variation of inflation climbed to 58%, led by clothing and footwear that reached 9.9% in a single month, while food stood at 5.9%. 58% year-on-year is the highest number in the last 30 years, given that in January 1992, that same variable had been 76%.
“Lately, officials Kirchnerists have dedicated themselves to revealing their failurebut they spent more than two years encouraging the monetary issue, the enlargement of the State and the waste of public spending,” said Cristian Ritondo, president of the PRO front bloc and former Buenos Aires security minister. Clarion.
And he concluded: “The galloping inflation anticipates a gloomy panorama, with more poverty and social crisis. To get out of the inflationary swamp a credible government is needed and confiable. Today, neither the President nor the economic team generate favorable expectations, because they have lied too much to justify a management that is floundering, from failure to failure.”
For his part, the radical deputy and former governor of Mendoza, Alfredo Cornejo, questioned the government about the disputes while inflation climbs: “While the internal novel of the Frente de Todos continues, Argentines live the real and daily drama of inflation. Not having a concrete economic plan and sensible policies, sinks us every day a little more”.
María Eugenia Vidal, deputy for the City and former governor of Buenos Aires, also pointed to the economic cabinet: “The militants of ‘the emission does not generate inflation’ issued until reaching the highest year-on-year inflation of the last 30 years. give the machine to try to win an election is not free.
“Between CFK’s ‘electoral plan’ (moratoria, parity, issuance) and Alberto’s ‘let’s see’ plan, the country is going to record numbers of annualized inflation. They don’t want and can’t solve the problem because they don’t have an country and a sensible government plan”, fired the radical deputy from Córdoba, Rodrigo de Loredo.
“April inflation at 6%, which is 100% if it stays like this for a whole year. It seems that the “multi-causality” is not taking place. The factory from poor to full and all for ignoring science and reality that say that inflation is a monetary phenomenon,” criticized Liberal deputy José Luis Espert.
In addition to the interblock of Together for Change and the Liberals, he also came out to question the left. “The inflation of 6% in April and 58% in the last 12 months implies the deepening of the fall in the purchasing power of wages. Since the federal march we demand a national strike and an emergency increase for retirees and workers,” said national deputy Romina Del Pla, from the Left Front.
For his part, the economist and radical national deputy Martín Tetaz launched a worrying forecast: “The second consecutive month that inflation runs at an annualized rate of 3 digits. If in all the months of a year there is 6% inflation, it accumulates 101%“.
Another opposition economist and deputy, Ricardo López Murphy, recalled the “platita plan”. “Here are the results of the ‘platita plan’. Nothing is free for the State. We all pay for clientelism and every year it is more expensive,” said the former economy minister who controls the internal line of the United Republicans.
The deputy of the Civic Coalition, Paula Oliveto also expressed her opinion on the networks: “Inflation affects all Argentines, especially retirees, the most humble and the workers. Unfortunately, this government does not have an economic plan and the crisis is aggravated by their internal fights. The highest inflation since 1992”.
“The highest annual inflation in 30 years. And the Government believes that we are on the right track“, was the forceful message of Jorge Macri, Minister of the Buenos Aires Government.
Peronist criticism was provided by Florencio Randazzo. “So much the Government as the main opposition space is thinking about 2023instead of working to resolve the 58% inflation that Argentina suffers.” “The pocket of Argentines can’t take it anymore!”, he emphasized in networks.
There were also direct criticisms of the economy minister. “Martín Guzmán cannot stop inflation: a machine to generate poverty and destroy the dreams of those who want to progress with the effort of their work,” he wrote. Alex Campbell.
The provincial deputy of JxC attacked, capturing all those mentioned: “Meanwhile, @alferdez and @CFKArgentina have the Argentines hostage and the government paralyzed with their intern.”
Food follows as a high variable
According to the INDEC report, April inflation was again driven by Food and non-alcoholic beverages, which registered a monthly increase of 5.9%. Although it had a drop compared to March, it was the category that had the most impact in all regions.
Within this category, the highest increases occurred in Oils and Bread and Cereals, which had increases of between 8% and 15% depending on the region, followed by Meats and derivatives and Dairy products, with increases of between 5% and 7%. . “These items were the most affected by the rise in international prices of the main commodities in recent months, due to the drought, but also to the war between Ukraine and Russia,” said the Ministry of Economy.
The category with the most increases was Clothing and footwear (9.9%), followed by Restaurants and hotels (7.3%) and Health (6.4%).
According to the Survey of Market Expectations (REM) carried out by the Central Bank among the consultants of the financial market, which is one of the last known in this regard, it showed that the estimate of retail inflation for April would be located at 5, 6%.