ARGENTINA’S National Institute of Statistics and Censuses (Indec) said on Tuesday that inflation in February was 6.6 per cent, while the cumulative year-on-year figure reached 102.5 per cent.
At 102.5 per cent, cumulative year-on-year inflation exceeded 100 per cent for the first time since 1991.
The effects of soaring inflation have long been felt in Argentina. Last September, protesters took to the streets to demand action to counter rising costs of living, and, in February, Argentina’s central bank said that a new 2,000-peso (£8.13; $9.9) banknote would be issued in response to the jump in consumer prices.
Last summer, three economy ministers succeeded one another in the space of four weeks as the country’s economic crisis deepened, and President Alberto Fernández is said to be at odds with his deputy, Cristina Fernández de Kirchner, over how to tackle Argentina’s economic problems.
In December, the International Monetary Fund (IMF) approved another $6bn (£4.9bn) of bailout money.
It was the latest payout for Argentina in a 30-month programme that is expected to reach a total of $44bn.
The Consumer Price Index (CPI) experienced a 13.1 per cent rise in the first two months of 2023, according to the Indec report.
The prices of food and non-alcoholic beverages increased 9.8 per cent, ‘mainly due to the incidence of the rise in meats and derivatives and milk, dairy products and eggs.’
The next divisions with the highest increases were Communication with 7.8 per cent, affected by the rise in telephone and internet services, as well as Restaurants and hotels (7.5 per cent).
Prepaid services, which impacted Health, grew by 5.3 per cent; cigarettes, in the category of alcoholic beverages and tobacco, increased by 5.2 per cent.
Within Transportation, fuels reported 4.9 per cent, while electricity and water services in some regions reported 4.8 per cent.
The Argentinian broadcasting union SATSAID announced it has secured a 38 per cent pay increase and one-off bonus of $106,400 (US$537) for its members working at free to air TV channels and independent television production companies across the country.
The win comes after a series of mobilisations and walk-outs, including a demonstration at the filming of the TV series Big Brother that was broadcast live to the nation.
SATSAID sealed the new salary agreement with the Argentine Chamber of Independent Television Producers (CAPIT) and the Association of Argentine Teleradio Broadcasters (ATA) at the Ministry of Labour on 3 March 2023.
The pay rise will be distributed in four stages and applied retroactively from January to June 2023.
‘This agreement is the result of the solid commitment and proactive support of the workers, who took part in all the actions of the struggle from the very start of the conflict,’ said Horacio Arreceycor, Secretary General of SATSAID. ‘Today we have finally reached a salary increase that is fair for workers.’
As well as the bonus which will benefit workers across the country, the union has secured a commitment from employers that they will not deduct wages from workers who took part in union walk-outs in the context of the recent conflict.
Marcio Monzane, Regional Secretary of UNI Americas said: ‘SATSAID has demonstrated its power to mobilise its members and secure victory. This agreement for a just salary increase shows workers everywhere that if they rally together and join a union, they don’t have to pay the price for inflation.’
- Peru’s National Institute of Statistics and Informatics (INEI) said that national production decreased by 1.12 per cent in January, in a report on Wednesday.
The Institute said the negative index was due to the stoppage of activities linked to anti-government protests taking place in the country since last December.
The drop in production was marked by the contraction of key economic sectors, including Construction, Telecommunications, Mining and Transportation, which came after 22 months of consecutive growth.
The Construction sector reported the worst performance with a reduction of 11.7 per cent. The Telecommunications and other information services sector also reported -9.26pc, while the Financial and insurance sector, -5.95pc.
Mining and hydrocarbon production, which contributes approximately 10pc of gross domestic product (GDP), fell 3.61pc in January. Production in the transport, storage, and courier sector, fell 2.94pc.
Sectors that experienced positive performance in the first month of the year included fishing (32.96), accommodation and restaurants (7.99), electricity, gas and water (3.30), public administration (2.13), agriculture and livestock (1.89), commerce (1.24) and manufacturing (1.08).
According to INEI’s National Production technical report, ‘during February 2022–January 2023, the national economy increased by 2.35 per cent.’
- On Wednesday, Colombian authorities reported that at least 11 people died after the explosion of coal mines in Sutatausa town in the Cundinamarca department.
President Gustavo Petro confirmed the number of dead and expressed solidarity with their families. ‘A regrettable tragedy. We are making every effort with local authorities to rescue the trapped people alive,’ he stated.
The explosion, which was generated by the accumulation of methane gas and carbon dust, affected the El Hoyo, Lucero, and La Esperanza mines, where about 30 miners were extracting coal manually at the time of the accident.
‘These mines are interconnected, so the explosion affected all of them,’ Cundinamarca Fire Department Captain Alvaro Farfan explained, adding that seven miners escaped the mines but another ten remain missing.
‘I was out on a break. I thought the world was over. I will never forget the explosion,’ miner Juan Quiros recalled, stressing that he and some other partners are supporting the rescue operations.
Firefighters and members of the National Mining Agency, Red Cross and Civil Defence lead the rescue efforts, which have been complicated due to the persistence of gas in the mines.
El Espectador media reported that the mines where the emergency was registered are legal and have all permits in order.
‘The area’s mining title was issued in November 2002 and is valid until 2032,’ it stressed, adding that authorities are investigating what may have caused the gas concentration.
- The Brazilian government announced on Wednesday the dispatch of special troops from the National Security Force to Rio Grande do Norte (northeast) in the face of the recent wave of violence sweeping the state.
In response to a request for police reinforcements from the governor, Fátima Bezerra, the Minister of Justice, Flávio Dino, announced the assignment of ‘220 police officers to assist the state forces.’
The Minister said through his official Twitter account that a further expansion of reinforcements is possible as the situation requires.
At least 19 cities in Rio Grande do Norte, including the regional capital Natal, were the scene of a wave of attacks in the early hours of Tuesday morning, with shootings and fires in public buildings, stores, and vehicles.
Local media point to the criminal organisation Crime Syndicate as responsible for the attacks. The organisation operates in the region, controlling drug trafficking.
One person died after a confrontation with police, while at least 21 have been arrested.
Governor Fátima Bezerra said via Twitter that ‘there is already a decrease in the number of incidents, but our government remains attentive and focused on overcoming this difficult moment as soon as possible.’
