Por Miguel A. Kiguel
Todos sabemos cómo funciona el cepo, y hemos aprendido a vivir con tasas de interés reales negativas, a usar el dólar Contado con Liqui para eludir los controles...
The incidence of regulated services in inflation grows
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The incidence of regulated services in inflation grows
Third week
April 2017
Lowering inflation by delaying some prices, as it was done with public services or the exchange rate during previous years, is not the same than doing it without delaying any price. Mainly because the former kind of disinflation will inevitably be transitory, like the one in 2015, for example.
Lowering inflation while there is a (necessary) change in the relative prices of the economy is much more challenging and certainly takes longer, although it also ensures a much more permanent disinflation. Spotting the particular effects is also more complex, as core inflation is not immune to adjustments in the rates of regulated public services.