MercoPress. South Atlantic News Agency

Argentines would like to buy at “official” inflation and be paid in real inflation

Clothing was the item with the greatest impact in June

According to Argentina’s statistics office Indec consumer inflation was 0.7% pushed mostly by the cost of clothing. However private economic consulting offices estimate the index was double the official announcement.

Indec inflation in the last twelve months reached 9.7% and 4.7% in the first half of 2011. But the so called Congress inflation index released on Wednesday was 1.52% and totalling 25% in the last twelve months,

The wholesale prices index in June was 0.9% and 6.1% so far this year. The cost of construction has risen 0.7% and 6.3% in the first half of 2011.

The consumer inflation item which had the highest impact in June was clothing with 1.7%, followed by home equipment and maintenance, 1% and transport and telecommunication, 0.8%

Food and beverage; education and housing and basic services increased 0.6% while medical attention and health care, 0.5%. According to Indec in the food item, peppers soared 14,.2%; lettuce, 6.9% and tomatoes, 6.8%. On the other extreme oranges were down 19.6%; lemon, 10.2% and carrots, 6.3%. Fruits overall increased 1.6% in June; dairy and poultry produce 0.7%; cooking oil, bakery and vegetables, 0.6% and beef, 0.4%.

“Items which represent 62% of the basket suffered an increase of 0.9% while services which represent the remaining 38%, experienced a variation of 0.4% compare to the previous month (May)”, said the Indec report.