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Source: The Bubble

Everyone rejoice! Inflation in August will be less than one measly percentage point, at least according to Finance Minister Alfonso Prat-Gay, who triumphantly celebrated today that the government has been able to put the brakes on rising consumer prices. Granted, that would come after inflation soared 32 percent in the first seven months of the year, according to the Buenos Aires City government. But, hey, better late than never, right?

If the estimate is true, it would mark the lowest monthly inflation rate in 10 years, he said. (Obviously we’re talking about the real numbers and not those that were made up by the Indec statistics agency for so many years). “We’re doing what we said we would, which was lower the inflation rate in the second semester,” Prat-Gay said in an extensive interview with La Red radio. Again, that’s after making inflation soar in the first half of the year, but let’s not get caught up in the details.