Why is Alan Garcia unpopular in his own country (part two)?

It could be that he's everything I said in the previous post, but it could also be this.

Peru's inflation is now spinning out of control. Today's announcement that inflation was 0.77% in June, which means the country is running a YoY rate of 5.71% makes the words of Alan and (ex) minister Carranza back in February look like all the hogwash that they were. Carranza's policy of reeling in public spending to control inflation has been a total pushing-on-rope failure. Neoliberal economics do not work under a situation where a strengthening currency meets a rapid increase in imports. This is economics 101, and these idiots ignore the fact to suit their own dogma. Now Peru and its people will have to pay for their incompetence. Goodbye Carranza, you will not be missed.

Even worse is the PPI rate, which showed a 1.69% in June alone and is now running over 10% annual. Next they'll tell me that producer prices won't be passed on to the consumers in the months coming. These people are self-serving liars. Be clear.

Thus ends Otto's special "let's kick Peru" day.