Argentina facing runaway inflation

A report just published by UNICEF has shocked the Argentinian government by revealing that one third of its children live in poverty. The government is now six months into its term of office and is struggling to control escalating price inflation which it admits will probably be 25% this year. However, current figures are hard to obtain because it has closed down its heavily discredited statistical agency. In Buenos Aires prices rose by 7% in April alone and President Mauricio Macri is seeing his ‘zero poverty’ policy slowly crumble away. In order to assist those on low incomes the government has called together its Minimum Wage Council, although the scope for adjusting wages will be limited without adding to the country’s rising level of unemployment.

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