2024-11-20 14:14:17
At no point was monthly or yearly inflation near 17,000%. Argentina’s highest monthly inflation rate in 10 years was 25.5% in December 2023, right after Millei took office. [Link] Argentina’s highest yearly inflation rate in 10 years was 292.2% in April 2024, during Millei’s term: [Link] NEEDS_MORE_RATINGS(6-1-4) Author
2024-11-20 15:17:52
To arrive at the 17,000% figure, Milei performed an annualized inflation calculation using the wholesale inflation rate data for December 2023 (54%). To this, he added the remunerated liabilities of the BCRA, which would multiply this rate by 12. Source: [Link][Link][Link] NEEDS_MORE_RATINGS(2-0-2) Author
2024-11-20 22:32:53
Projected means what would happen, hypothetically, if inflation was monthly 54% for 12 months straight. It's not 54 times 12, that's not how percents work, they grow like bank interest. The exact number would be (1.54^12-1)×100=17693% - huge interest of 177 times the loan sum. [Link] NEEDS_MORE_RATINGS(1-0-3) Author