Argentina's official inflation was up to 0.8% in July, the government reported on Monday, but private analysts said the real rate was about double that.
Twelve-month inflation through July was 9.7%, unchanged from June, the INDEC statistics agency said. However, analysts estimate Argentina's inflation at about 25% annually, together with Venezuela one of Latin America's fastest rates.
Official inflation figures are widely discredited as being too low to reflect real price growth. Inflation was 0.7% in June, according to the INDEC.
The disparity between private and official figures has sparked a government crackdown that includes large fines for economists who publish inflation data that differ from that of the government.
To protect local consultants from retaliation, opposition lawmakers have been releasing independent estimates.
Argentina’s “Congress inflation index” reached 1.62% in July, confirming well over 23% for the last twelve months according to the latest release from the Lower House
The INDEC said the biggest consumer price gains in July were in apparel and leisure, which rose 1.9% and 1.3%, respectively. Prices for food and beverages, the most heavily weighted item, rose 0.8%.