Jan 31 01:11
3 mos ago
26 viewers *
French term
United Kingdom
Finance, comms and legal specialist
Native in: English 
Works in: French to English, Spanish to English
degré de transmission de la dévaluation
French to English
Bus/Financial
Economics
Hi all,
I'm translating an economist's report about Argentina from French (France) to English (United Kingdom) and am having trouble with the phrase above. Please see below for context:
"Avant la dévaluation, l’inflation était déjà en forte accélération (+11% par mois en moyenne entre août et novembre contre 7% entre janvier et juillet), malgré le contrôle des augmentations de prix mis en place par le gouvernement précédent. En décembre, la hausse a atteint 25,5% sur un mois et 211,4% sur un an, la dévaluation et la fin du contrôle des prix ayant déclenché une vague de rattrapage, notamment des prix des carburants (+47,7% sur un mois) et de ceux de l’alimentation (+29,7%). Au S1 2024, l’inflation va rester très forte car les rattrapages vont se poursuivre (d’après les calculs de JP Morgan, le degré de transmission de la dévaluation n’aurait été que de 30% jusqu’à maintenant) et les prix règlementés, qui représentent 16% du panier de consommation, vont être fortement revalorisés en raison de la baisse des subventions."
Could anyone help please? Many thanks
I'm translating an economist's report about Argentina from French (France) to English (United Kingdom) and am having trouble with the phrase above. Please see below for context:
"Avant la dévaluation, l’inflation était déjà en forte accélération (+11% par mois en moyenne entre août et novembre contre 7% entre janvier et juillet), malgré le contrôle des augmentations de prix mis en place par le gouvernement précédent. En décembre, la hausse a atteint 25,5% sur un mois et 211,4% sur un an, la dévaluation et la fin du contrôle des prix ayant déclenché une vague de rattrapage, notamment des prix des carburants (+47,7% sur un mois) et de ceux de l’alimentation (+29,7%). Au S1 2024, l’inflation va rester très forte car les rattrapages vont se poursuivre (d’après les calculs de JP Morgan, le degré de transmission de la dévaluation n’aurait été que de 30% jusqu’à maintenant) et les prix règlementés, qui représentent 16% du panier de consommation, vont être fortement revalorisés en raison de la baisse des subventions."
Could anyone help please? Many thanks
Proposed translations
(English)
| 4 +1 | Percentage of the devaluation pass-through |
Francois Boye
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| 3 +1 | (so far) only 30% of the monetary devaluation has been passed further |
Daryo
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| 3 +1 | the effect of devaluation passed on so far |
SafeTex
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Proposed translations
+1
1 day 1 hr
Francois Boye
United States
United States
Native in French
Specializes in field
United States
An economic geek with social skills
Native in: French 
Works in: English to French, French to English, Spanish to English, and 1 more.
Related KudoZ points
:
37
Selected
Percentage of the devaluation pass-through
Exchange-rate pass-through (ERPT) is a measure of how responsive international prices are to changes in exchange rates.
Formally, exchange-rate pass-through is the elasticity of local-currency import prices with respect to the local-currency price of foreign currency. It is often measured as the percentage change, in the local currency, of import prices resulting from a one percent change in the exchange rate between the exporting and importing countries.[1] A change in import prices affects retail and consumer prices. When exchange-rate pass-through is greater, there is more transmission of inflation between countries.[2] Exchange-rate pass-through is also related to the law of one price and purchasing power parity.
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Note added at 1 day 1 hr (2024-02-01 03:08:06 GMT)
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Source: Wikipedia
Formally, exchange-rate pass-through is the elasticity of local-currency import prices with respect to the local-currency price of foreign currency. It is often measured as the percentage change, in the local currency, of import prices resulting from a one percent change in the exchange rate between the exporting and importing countries.[1] A change in import prices affects retail and consumer prices. When exchange-rate pass-through is greater, there is more transmission of inflation between countries.[2] Exchange-rate pass-through is also related to the law of one price and purchasing power parity.
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Note added at 1 day 1 hr (2024-02-01 03:08:06 GMT)
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Source: Wikipedia
Peer comment(s):
| neutral |
Daryo
: could help, but the ST is about domestic prices and domestic inflation.
21 hrs
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Any devaluation impacts domestic prices, because an open economy imports inputs and outputs used in the domestic economy.
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| agree |
philgoddard
: Not 'percentage of the', though.
1 day 10 hrs
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Percentage, because the magnitude of a pass-through is measured in percentage
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4 KudoZ points awarded for this answer.
Comment: "Thanks!"
+1
5 hrs
French term (edited):
degré de transmission de la dévaluation ... que de 30%
(so far) only 30% of the monetary devaluation has been passed further
There's no point in dwelling on "degré de transmission" - slavishly cling to being as close as possible to a word for word translation - simpler (and clearer) to look at the whole sentence.
Inflation is like a chain reaction: those impacted either absorb it or - immediately or with a delay - pass it further - by inflating their own prices.
(les) rattrapages vont se poursuivre (d’après les calculs de JP Morgan, le degré de transmission de la dévaluation n’aurait été que de 30% jusqu’à maintenant)
=
the catching up with the inflation will continue ... as only 30% of the received "monetary shock" was passed along further down the chain
Inflation is like a chain reaction: those impacted either absorb it or - immediately or with a delay - pass it further - by inflating their own prices.
(les) rattrapages vont se poursuivre (d’après les calculs de JP Morgan, le degré de transmission de la dévaluation n’aurait été que de 30% jusqu’à maintenant)
=
the catching up with the inflation will continue ... as only 30% of the received "monetary shock" was passed along further down the chain
Peer comment(s):
| neutral |
philgoddard
: Sorry, but this is confusing and ungrammatical.
6 hrs
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I the subject matter is not your forte, it will be confusing. Could be expressed in many ways, but you have to have a reliable starting point - to understand what the ST means. I know that it sounds unfinished, that s.t. ought to be after "further".
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| agree |
Peter Moss-Métra
: I agree. This is incorrect. It could be, however, "passed on...". But more likely to something along the lines of "fed through to..."
8 hrs
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Thanks! Yes "passed on" is better.
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+1
17 hrs
the effect of devaluation passed on so far
I've reposted as I said "deflation" instead of "devaluation" by mistake in my first answer
Sorry about that
Sorry about that
Peer comment(s):
| agree |
Daryo
: That's the idea. // A note of caution - the ST seems to be about "devaluation" of the buying power of the currency (a.k.a "inflation"), not "devaluation" of its parity with other currencies.
1 day 6 hrs
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Discussion
https://english.stackexchange.com/questions/13551/€10-ten-euro-or-ten-euros
If you run a business and if due to inflation it costs you 1000 more to make one unit of your product, when you increase your unitary price by 300 you have shifted 30% of the impact of the inflation you suffered to your clients, IOW you could say that "le degré de transmission de la dévaluation" is this case would be 30%.
You got hit with a 1000 increase in your own costs, but you hit your clients with only 300 in increase of your prices. (300/1000 = 30%)
Everyone tries to keep shifting the burden of the inflation suffered until all of it is passed further down the chain (i.e. until "le degré de transmission de la dévaluation" gets to 100%) thus this idea of "rattrapage".
In all this the rate of inflation (which shows how much of the buying power of the currency was lost / "devaluated") could just be anything - 1% or 10.000% - it's a different indicator.
Closer to home: due to inflation to deliver 10.000 words costs you 10 euros more, but you increased your price for 10.000 words by only 3 euros. Then you've managed to get "un degré de transmission de la dévaluation" of 30%.
Il est prévu qu'elle atteigne 50% ...
https://www.coinlive.com/news/argentina-implements-50-curren...