Whoops! Official Argentine inflation just a tad off
We have posted in the past about how Argentina has been fudging their macro data (see here and here) by systematically under-reporting inflation, which is a very convenient thing to do when you have issued inflation-indexed bonds!
However, it seemed like the Kirchner governments were more or less getting away with it. Now, after a humbling electoral defeat, anti-corruption prosecutors are actually going after them for the funny numbers!Economists say the official inflation rate of 8.5 percent in 2007 was really about 25 percent.