They destroyed wages, made brutal cuts to pensions, universities, public works, paralyzed consumption and plunged the economy into recession.
And yet, the government is still unable to break the inflation floor of 4% per month.
In August, it was 4.2%, up from the previous month. The data published by Indec on Wednesday was higher than expected. The biggest increase was in Housing, water, electricity and other fuels (7.0%) due to the rise in rents and rate hikes.
So far this year, inflation has already reached 94.8% and in the last twelve months it has reached 236.7% year-on-year.
They say they don’t regulate prices, but inflation persists largely because they regulated them “upwards.” They allowed increases in energy rates, prepaid health plans and other services that affect our pockets and enrich those of big businessmen.
However, what gives the government the biggest headache is the so-called “core inflation”, that is, prices that are not regulated and are defined by the “market”.
The increase was 4.1%, the highest since April, and it has not stopped. In all regions, the result of the core was disastrous. This includes, for example, food, except for fruits and vegetables, or the clothing that is produced here.
Caputo’s list of promises from a week ago included a drop in inflation. But the price dynamics do not seem to be heading in that direction. And the data for August confirm the doubts about the economic direction.
Despite Milei’s nonsense, the severe recession and the exchange rate peg, there are no signs that the situation is going to improve for workers and retirees. Although the unions still seem to be unaware of this.
With these prices, how much of your monthly salary do you have left?
Source: www.laizquierdadiario.com
