Argentina never refuses to surprise. Its policymakers have been making all kinds of attempts to report lower than actual inflation.
En Argentina, ¡el precio del Big Mac subió casi el doble que el IPC oficial! Mientras el IPC oficial aumentó en 10% en 2010, el precio del Big Mac aumentó en 19%.
In other words, the real price of the Big Mac rose nearly twice as much as the official statistics were willing to admit, in Argentina of course. That’s not right, so the government sprang into action. The minister of the commerce department “persuaded” McDonald’s to price the Big Mac at $16, while other sandwiches at the chain are in the $21 to $23 range.
The outlets now keep the Big Mac well-hidden, full story (in Spanish) here. For the pointer I thank Raphael Corbi.
Economist Big Mac index, be warned!
All you can do is read the post with surprise and smile knowing anything can happen in the great Argentine economy..