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9/13/18

Argentina inflation in August 2018: 3.9%

That's not 3.9% annual, mind you. That's just for August. That's the worst month for the last two years (i.e. the Mcri government) and will hold that record until...next month, because September's is bound to be worse.

Inflation in the first eight months of the year is now 24.3%. Compare that to the Macri government forecast in late 2017 that this year would come in at between 8% and 12% for the whole12 months accumulative, which was then adjusted up to 15% at the beginning of 2018. The cruel reality is that it's now running at over 40%, because the latest reading doesn't even take into account the effects of the most recent leg-down in the Argentine Peso. And speaking of which, on publication of the inflation numbers it dropped to 40 to the Dollar again. More to come there, too.