The inflationthat scourge that It affected Argentines throughout 2023, but it dates back decades in our country. A scourge that, as was predictable, got into the presidential campaign that ended up pitting Javier Milei and Sergio Massa against each other in the runoff. That scourge that persists in 2024 and that destroys the saving capacity of any worker. A review of this year’s numbers.

During 2023, the maximum peaks in the presidency of Alberto Fernández They were registered on three different occasions:

• August: the highest value in the last 20 years was recorded, 12.4%.
• September: higher than the August figure, it was 12.7%.
• November: again had a strong increase and reached 12.8%.

Despite these numbers, which at the time were records, the Consumer Price Index (CPI) of Decemberalready with Milei as president, surpassed all records and was placed in the 25.5%.

This monumental value of inflation, the government that had just taken office on December 10, attributed directly to the Kirchnerist management, so by the end of the year, the responsibility for that extraordinary figure remained in the middle of both mandates and with the Argentines immersed in an extraordinary devaluation of its currency.

Month-by-month inflation in 2024

Although it was one of his “workhorses” in the campaign, so far in Milei’s administration as president, the rise in prices remains at values ​​that for any other country in Latin America (with the exception of Venezuela ) and the world would be unthinkable and catastrophic.

However, the President maintains that there is an improvement in the indicators, because it started from 25.5% and by January inflation dropped to 20.6%.

• January: the first figure of the year reflected an inflation of 20.6%.
• February: in the second month of the year a decline was also reflected, positioning itself in the 13.2%.

The Government took this data as a positive symptom, despite the high figure, because they maintained that in one month they managed to lower the CPI by almost five points. In February, even that number was more favorable.

Milei himself stated the day before the February number was released: “70% of people are convinced that we are going to defeat inflation. 80% believe that we will do it in a year and 20% that it will take longer.”

What is inflation

The inflation can be defined as the general increase in prices of goods and services during a certain period of time. The name derives precisely from the fact that values ​​have been “inflated”.

What causes there to be a lot of inflation? The trigger for this situation makes money is worth less and less. That is, what could be purchased in 2022 will currently be a percentage more expensive, so more money would be needed to have the same products.

Inflation is measured from Consumer Price Index (IPC) which is composed of a group of goods and services ranging from food, clothing to housing and leisure.

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