22 September 2011

ARGENTINA: CFK Defies Austerity With Increases...But Fights Rampant Inflation.

                                        AP / M.WARREN

     Soaring commodity prices have helped President Christina Kirchner...aka CFK...increase the minimum wage this month by 25%...welfare payments by 23%...and retiree pensions.
    But inflation continues to devalue any increases.
    The IMF now says it can no longer trust the government's inflation stats...and will supplement figures with data from private consultants and provincial governments.
    The province of San Luis reports 26% inflation...equal to Venezuela's.