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News Summary: Gov't food price claim baffles
Thursday - 1/17/2013, 2:26pm EST
(AP) - SIX PESOS: The Argentine government says feeding a person costs six pesos (about $1.20 U.S.) a day. But in Buenos Aires, that will buy just a can of green peas at the grocery store.
LIES AND STATISTICS: The government's official inflation rate is based largely on food costs. The International Monetary Fund has lost patience after urging Argentina for years to improve this measure of consumer prices.
PUNISHMENT: The IMF is now on the 12th step of a 15-point process for flagging Argentina because it doesn't follow the rules. The IMF could censure Argentina or even suspend its membership.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)