A week ago, 20 kilograms (44 pounds) of pasta was enough to feed the dozens of families who visit the Sal de la Tierra soup kitchen in Villa Fiorito, a poor Buenos Aires suburb beset by the economic crisis ravaging Argentina. But with monthly inflation topping 20%, the number of hungry residents has soared. This week, the soup kitchen, which relies on private contributions and volunteer work, had to prepare 30 kg of pasta.

  • @brbpostingEnglish
    5•4 months ago

    Argentina’s statistics agency on Wednesday published annual inflation of 254% as January inflation edged down to 20.6% from 25.5% a month earlier, just below forecasts of 257% and 21% according to analysts polled by Reuters.

    Actuals:

    2024 Annual Inflation: 254%

    Jan ‘24 Monthly Inflation: 20.6%

    Dec ‘23 Monthly Inflation: 25.5%

    Predictions:

    2024 Annual Inflation: 257%, est.

    Jan ‘24 Monthly Inflation: 21%, est.

    Assuming Argentina government data is accurate,

    1.) inflation is stabilizing (decreasing) over time

    2.) inflation is beating analyst forecasts

    Tragically high inflation but at least not going in the wrong direction at the moment.