Two economic consultants were fined for spreading “manipulated” inflation data

City of Buenos Aires, March 11, 2011

Economic consultants Finsoport, led by economist Jorge Todesca, and Bein & Associates Study were fined with 500 thousand pesos for presumptive inflation data manipulation since 2007.

The National Directorate of Domestic Trade said that the sanctions were imposed for violating the Fair Trading Act.

That legislation says, in Article 9, that “any kind of display, advertising or propaganda based on inaccuracies or concealment which may cause mislead, deception or confusion regarding, among other things, price and marketing conditions of movable and immovable property or services” will be penalized.

Inflation measures from both consultants differ from those of INDEC, but also would have been manipulated, according to the complaint.

Meanwhile, the heads of both institutions indicated they will appeal the decision before the court, and criticized that “we can not publish what is calculated” with impunity.