We came from four years of economic stagnation, where businessmen were blamed for inflation, while now the President (Mauricio Macri) knows that the State is responsible for the price increases,” Peña said. According to the National Institute of Statistics and Census, inflation in July rose by 2 percent for the country as a whole. However, several indexes projected that annual inflation will be over 40 percent, a number that is much higher than the 25 percent the Macri administration expected when taking office. By this, Peña was saying that the Macri administration used a policy of economic “gradualism” to alter the economy. Electricity increases, on the other hand, are currently suspended due to a ruling from a Federal Judge who determined were disproportionate.

Source: The Bubble August 25, 2016 19:52 UTC