Consumer prices rose just 1.5% in May, according to government data – the lowest monthly rate since May 2020; Inflation at 13.3% so far this year, 43.5% over the last 12 months.
Note to all: The reduction from 200% to 30% inflation rate on average comes from a strategy in controlling the monetary base and anchoring expectations to the real exchange rate, which wouldn’t be possible without extreme fiscal discipline and by real wages falling sharply.
In other words, what Evil Bilbo is accomplishing here is on the back of a quickly disappearing middle class and an overburdened working class.
That said, his government is still pretty much popular and whatever was going before was bonkers, so WDIK.
Note to all: The reduction from 200% to 30% inflation rate on average comes from a strategy in controlling the monetary base and anchoring expectations to the real exchange rate, which wouldn’t be possible without extreme fiscal discipline and by real wages falling sharply.
In other words, what Evil Bilbo is accomplishing here is on the back of a quickly disappearing middle class and an overburdened working class.
That said, his government is still pretty much popular and whatever was going before was bonkers, so WDIK.