Argentina Prepares for Hyperinflation
The Argentinian government has frozen super market prices for the next two months in a misguided attempt to stop inflation. A new commentary on Zero Hedge compares Argentina’s financial decline to the state of affairs in developed countries around the world. Are you prepared for sudden hyperinflation?
“Up until now, Argentina’s descent into a hyperinflationary basket case, with a crashing currency and loss of outside funding was relatively moderate and controlled. All this is about to change. Today, in a futile attempt to halt inflation, the government of Cristina Kirchner announced a two-month price freeze on supermarket products. The price freeze applies to every product in all of the nation’s largest supermarkets — a group including Walmart, Carrefour, Coto, Jumbo, Disco and other large chains. The companies’ trade group, representing 70 percent of the Argentine supermarket sector, reached the accord with Commerce Secretary Guillermo Moreno, the government’s news agency Telam reported. As AP reports, ‘The commerce ministry wants consumers to keep receipts and complain to a hotline about any price hikes they see before April 1.'”