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Montevideo, November 15th 2018 - 02:41 UTC

Argentina with two August inflation measures: the official Indec, 1,3% and the congressional rate, 2.65%

Saturday, September 13th 2014 - 06:57 UTC
Full article 40 comments
According to Indec, Housing and basic services lead the increase with 2.6%, followed by Education with a 2.1% According to Indec, Housing and basic services lead the increase with 2.6%, followed by Education with a 2.1%

Argentina has two consumer prices indexes, and they differ considerably. In effect during August the so called congressional index doubled the official rate: the National Urban Consumer Price (IPCNU) released by the stats office Indec, in the eighth month of the year was 1,3%, which means inflation in the first eight months stands at 18,2%.

However the Congressional index for August reached 2.65%, which means that in the last twelve months consumer prices have risen 40.38%. The congressional index is an average of private consultants that is presented every month by members of the opposition belonging to the Freedom of Expression Lower House committee.

According to Indec, Housing and basic services lead the increase with 2.6%, followed by Education with a 2.1% rise and Housing equipment with 1.3%. Foods and beverages jumped 1.2%, and Transport and communications rose 1.1%.

Meanwhile, also according to Indec, wholesale prices went up 1.4% in August and accumulate a yearly increase of 22.3%.

The official stats show that the CPI took off in January with a 3.7% rise and gradually dropped to the 1.3% registered in August. The deceleration could have to do with the implementation of the Argentine government-sponsored “Price Watch” program, though the goods that are not listed in the plan register 20% increases in the year.

The congressional index was presented in Argentina's Lower House annex with the attendance of Deputies Patricia Bullrich, Pablo Tonelli, Cornelia Smidt Liermann, Federico Sturzenegger, Patricia Giménez, Roberto Pradines and Carlos Brown.

Lower House member Gimenez claimed that not only inflation was too high but a detailed analysis of the different items shows that food remains the most volatile and climbing “which naturally affects the most vulnerable members of the community”.
 

Categories: Economy, Politics, Argentina.

Top Comments

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  • RICO

    1.3% ? 2.65% ? Can this be right what an amazing recovery........oh no those are monthly rates.

    Sep 13th, 2014 - 08:04 am 0
  • willi1

    inflation? that´s a lie of the vultures !

    Sep 13th, 2014 - 08:54 am 0
  • yankeeboy

    Most people spent the majority of their salary on food, which is running 44%/year with salaries going up 30%.
    That's a lot of lost buying power.
    CFK is going to dump around 200B pesos into the economy by eoy.
    I think the days of 2 digit inflation are quickly coming to an end.

    Sep 13th, 2014 - 11:36 am 0
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