In tune, from Cohen they added that “facing the July data, the greater exchange control, the jump in parallel exchange rates and adjustments in regulated prices, leaves an inflation floor of 7% -125% annualized-“, clearing and settlement agent Cohen revealed.
“The prices of unregulated goods and services (or subject to partial regulations) have become more expensive in the domestic market by 24.6% in dollars at the official exchange rate, from 2019 to June of this year,” said a report from the Mediterranean Foundation. “If the inflation of the United States of the period is discounted, then we would have that those 24.6 points are explained in 3/5 parts by the rise in international prices and 2/5 by local factors,” they added.
In this context, the economist Julio Secco affirmed in radio statements that the alarms will go on even more with the reopening of joint ventures to restore salaries. “For the coming months there is a danger of an inflationary spiralization both due to possible reopening of parity, and due to the formation of expectations “estimated.
“You cannot ask the new Minister of the Economy to give the government a credibility that it does not have, or to give the President the strength that it does not have. That is central to the issue of expectations. I think that the most complicated thing that happened to us in the last 15 days is that our worst suspicions about presidential weakness were confirmed,” economist Luis Secco said in radio statements.
* “Here there is a political problem but be careful because the political problem and the economic crisis exacerbate each other and you have a more than complicated scenario. I have not the slightest idea if the dollar has a ceiling, but if this continues, inflation it is going to be growing and consequently the dollar is going to accompany it because the political crisis is going to be greater and greater,” economist Luis Palma Cané said in radio statements.
Key: reserves and political order
For analysts, the Government will have to channel the accumulation of reserves to generate confidence, however they affirm that it will not be enough. “If a progressive exchange adjustment is not undertaken, there is a risk that it will occur abruptly due to the difficult economic and social situation,” VatNet Financial Research asserted.
“It is necessary for political leaders to put on their long pants and realize the serious difficulties that Argentina is facing. That implies having the capacity to carry out agreements and reforms that put the economy in order. We hope that those leaders with the greatest responsibility do their best to calm this situation of anxiety”, concluded Diego Bossio of the Equilibra consultancy.
Source: Ambito

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