A study published on Sunday by Econométrica, a private Argentine consulting firm, first reported the no-inflation week. In its study, Econométrica analyzed 8,000 prices in local online supermarkets and found no change when compared to the preceding week — something that has not happened in Argentina in three decades. In addition to the lack of variation in prices in one week, the study found that the prices of food and drinks only experienced an increase of 0.1 percent in the past 15 days.

President Milei, who is currently in Prague, confirmed the study’s findings on Monday morning in a telephone interview held with Argentina’s Radio Mitre, celebrating the news as a result of his economic policies.

“That means that we are on the right path — which there is still a long way to go, but the first signs that things are working are beginning to appear,” Milei told Argentine journalist Eduardo Feinmann.

“I sometimes present it, explain it, but, well, I have encountered in recent times gross levels of intellectual dishonesty. Because we all know that wholesale inflation is the one that predicts and anticipates retail inflation and the reality is that inflation in December when we arrived was 54 percent, that annualized gives 17,000,” he continued.

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Source: https://www.breitbart.com/latin-america/2024/06/24/argentina-logs-first-week-no-inflation-food-prices-30-years/

The post Argentina Logs First Week with No Inflation in Food Prices in 30 Years first appeared on Garner Ted Armstrong Evangelistic Association.

Surging food prices helped July’s headline inflation numbers break the record of 36.8% in June.

Sharp food price rises caused Egypt’s headline inflation to spike to 38.2% for the month of July, a record high amid a national economic crisis, data from the country’s Central Agency for Public Mobilization and Statistics (CAPMAS) showed Thursday.

Headline inflation includes commodities, services, fuel, food and goods, while core inflation does not include food and fuel.

July’s headline inflation numbers broke the all-time high of 36.8% in June. July 2022’s inflation was 14.6%.

Month-on-month, prices rose by 2% in July, the same rise as seen in June, the CAPMAS data showed.

Reuters reported that the median forecast of 15 analysts showed annual urban consumer inflation rising to 36.5% in July, with a previous high of 32.95% in July 2017.

CAPMAS said that increases in the prices of cereal, bread, meat and dairy meant food and drink prices rose by an annual 68.2% in July.

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Source: https://www.al-monitor.com/originals/2023/08/egypts-headline-inflation-hits-all-time-high-382-july#ixzz8AUIkI4Ls

The post Egypt’s headline inflation hits all-time high of 38.2% in July first appeared on Garner Ted Armstrong Evangelistic Association.