Andrés Asiain, director of the Scalabrini Ortiz Center for Economic and Social Studies in Buenos Aires:

“The relative increase in prices in a country is not just a question of changing prices, but also the evolution of the value of its currency in relation to its peers. In that sense, although Argentina has had a higher level of inflation than most of its trading partners, it is also true that its peso has depreciated sharply against other currencies. With this in mind, Argentina’s price competitiveness analyzed through its real exchange rate (which takes into account relative levels of infl ation and the prices of currencies), does not indicate a significant rise against its major partners." [...]