Argentina-Supermarket sales up 29.4%.

ARGENTINA.

SUPERMARKET SALES UP 29.4%.

Supermarket sales were up 29.4pc in December, compared with the same period last year.

Whilst the sales have gone up in monetary terms, the volume of goods sold has gone down and people are feeling the bite of inflation.

Meat has risen 56.8pc, bakery goods 56.2pc and general groceries have risen by 54.2 pc.

Inflation has been the main enemy of Argentina for the last 50 years, caged like a puma at the zoo, given a chance it breaks lose and is out of control.

One has to remember that in the early fifties, Spain and Italy were the poor relations of Argentina, while they have gone on to economic success, Argentina has gone backwards.

The unmitigated tragedy is, that Argentina should be like Canada and Australia today, as opposed to 10pc of the population controlling 90pc of the wealth.

Unfortunately since the meltdown in 2001, the elite have forgotten just how nasty a beast inflation can be.

If inflation is left unchecked with solid solutions, it will be only to happy to devour the whole economy