Peronist Fernández blames inflation in Argentina on “rogue speculation”

The president of Argentina, the peronist Alberto Fernandez, affirmed that the high inflation that the country registers is not related to monetary policy problems but rather to the “speculation of rogue businessmen”, particularly in the sector of food.

“I am concerned about inflation as much or more than you,” Fernández said in a massive event with militants of the ruling party at the Club Deportivo Morón stadium, on the western outskirts of Buenos Aires.

At the event, in tribute to former President Néstor Kirchner (2003-2007), whose death marked eleven years this Wednesday, Fernández stated that “inflation has no other explanation than speculation by a group of rogues who want to take advantage of the moment to make a profit to the detriment of the Argentines ”.

“It is not a problem of monetary issue. The monetary base grows much less than inflation grows ”, said the president.

The problem, he insisted, “is the concentration of food production, the setting of prices in a few operators, and before that you have to be firm, stand up to the powerful and tell them that this cannot continue.”

Fernández thus defended the measure adopted on October 19 by the Ministry of Internal Trade, which forces to go back to October 1 and freeze the prices of 1,500 mass consumption products, mainly food, until January 7, a resolution questioned by business sectors.

According to the latest available official data, for the whole of food and beverages, there was a year-on-year increase in prices of 53.4% ​​in September and an accumulated increase so far this year of 36.6%.

According to the Government, in the first half of October there was an acceleration in the prices of food and cleaning and personal hygiene products, with increases of between 8% and 25%.

Fernández pointed out that “it is not fair that the prices of basic foods grow the way they grow, when the income of those who work does not grow in the same way.”

“We do not doubt: among those who speculate at the expense of the hunger of the Argentines and the Argentines who are hungry, we stand next to the Argentines who are hungry,” said Fernández, whose government will face midterm elections on November 14. term in the middle of a very complex economic scenario.