>The current government did a lot of price control of certain products (mainly food and services). Unfortunately, this seems to me like a populist/demagogic me

>The current government did a lot of price control of certain products (mainly food and services). Unfortunately, this seems to me like a populist/demagogic measure. We have tried it (a lot) in Brazil, and whilst it made some people seem better off (such as richer regions, like the SE) whilst others lost a great deal of purchasing power, it also caused massive shortages and the rise of a black market for common goods, with pretty hefty mark-ups and waiting times. > The food production chain is not so dependent on imported goods, but it's one of the main products for export. When international prices go up, domestic prices rise as well. Good point! It was (and still is) a major issue here. For example, today our domestic prices for fuel (gas and ethanol) and all commodities that we export (sugar, soybeans, iron ore, etc) are very correlated to the international prices. > Argentina has tons of debt So did we during our inflationary years, and both private loans as well as loans for public expenditure of all spheres, which were made so as to not raise taxes, and even to pay salaries (not even to make investments). Looking back this sounds absolutely bonkers. Today our debt is rising fast, but it's mostly internal (BRL-denominated bonds). I wonder how much more of it (and combined with what else) would kick off the inflationary process again.