Argentine inflation: in the world top ten, with countries like Zimbabwe and Sudan

11/23/2020 8:44 PM

• Clarín.com

• Economy

Updated 11/23/2020 8:44 PM

Comparing yourself to others in terms of inflation is a bath of realism.

Although we improved in the world ranking in the last year, we

and we are in the company of countries with serious problems such as Zimbabwe or Sudan.

Not to mention the regional regional context where several countries have annual inflation below 2%.

According to the forecasts of the latest IMF report for this year

, Argentina would be eighth if we take the budget projection (32%) or seventh if we consider the calculations handled by private consultants (36.9%).

It is that the agency did not include an inflation forecast on this occasion due to the

to resolve the debt problem.

Having clarified the point, Venezuela - trapped in a hyperinflation that places it in another category - heads the world ranking this year with 6,500%.

It is followed by

.

Last year, with an inflation rate of 53.8%, it had only been surpassed by Venezuela - once again, with astronomical hyperinflation numbers - Zimbabwe (183%) and Sudan (57%).

Of the 189 countries for which the IMF collects statistics, only 17, that is, less than one in ten, register inflation equal to or greater than 10% per year.

In regional terms, in 2019 Argentina was the second worst performing country after Venezuela but was far behind all the others.

Even

, which had the worst score.

And not to mention countries such as Colombia (3.8%), Chile (3%), Paraguay (2.8%), Peru (1.9%), Bolivia (1.5%) and Ecuador (-0.1 %).

This year, the IMF expects inflation of 2.9% in Chile, 2.7% in Brazil, 2.4% in Colombia and 1.9% in Peru.

Uruguay departs from the group with 10%, while for Ecuador the forecast is 0.

In order to better gauge the distance between Argentina and its neighbors,

of 3.8%, with its inflationary acceleration, is served.

Brazil had a 0.8% increase in retail prices, Uruguay 0.6%, Peru 0.6%, Paraguay 0.5% and Colombia a deflation of -0.06%.

This means that the annual inflation expected for this year in the countries of the region does not exceed in any case not even the October figure in Argentina. 

Today there are, in fact, many countries that in the last twelve months have found themselves on the brink of deflation or in the midst of falling prices.

Just to mention a few, Singapore, France and Japan are at 0%, while Portugal registers -0.1%;

Germany -0.2%;

Italy -0.3%;

Switzerland -0.6%;

Spain -0.9%;

Ireland -1.5%;

and Hong Kong -2.2%.

Meanwhile, in Argentina, the promise of single-digit inflation is a mirage.

In the last half century we have two episodes of hyperinflation (1989 and 1990), while

The pandemic, with its stoppage of activity, moderated the march of inflation,

as well as measures aimed at "stepping on" prices in times of hardship.

But as the quarantine eases and the thaw kicks in, inflation is making itself felt again.