One of Argentina’s leading economic consultancies says it will defy a government crackdown on agencies that disseminate independent inflation figures.
At the start of July, the country’s interior minister, Guillermo Moreno, fined Orlando Ferreres & Associados – one of the best-known consultancies in Buenos Aires, in existence since 1970 – Ps500,000 ($122,000) for publishing inflation statistics that are much higher than the official figures. According to Ferreres’ research, annual inflation stands at around 25%, while Indec, the official government statistical agency, says it is 9.7%.
The Argentine government has fined eight consultancies for publishing inflation data higher than its own under what is known as a commercial faithfulness law.
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