Weekly Report - 19 January 2023 (WR-23-03)

ARGENTINA: Massa delivers ‘low’ inflation

It is not often that governments take the opportunity to celebrate annual inflation of over 90%. But that is precisely what Argentina’s presidential spokesperson, Gabriela Cerruti, did on 12 January when the national statistics institute (Indec) published the annual inflation figure for 2022 of 94.8%. Cerruti said the economy minister, Sergio Massa, had delivered by keeping inflation “below three digits” in defiance of the pessimistic predictions of “consultancies and the media” that said it would top 100%. This is pretty thin gruel for the voting public at the outset of an electoral year.

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