Global inflation trends:
Average global inflation (see ‘Global inflation indicators’ below) continues to fall, and the World Bank this month predicted that commodity prices would decline again in 2014, as they did in 2013. Inflation across the G20 group of countries decreased again, although the wider OECD bloc saw average inflation lift a little.
Bucking global trends, not for the first time, Argentina is set to see price indices rise dramatically. After years of publishing widely disbelieved inflation figures, which almost certainly under-represented the cost of living considerably, Argentina’s government is finally coming clean. A new month-on-month price index was published last week, confirming what independent analysts have been saying for years, that actual inflation is much, much higher than the rate the official statistics agency, Indec, has been reporting. An accurate annualised rate will hopefully follow soon, but the new monthly rate equates to annual…
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