MercoPress. South Atlantic News Agency

March inflation in Argentina ranges from 1.3% to 2.12%

Lawmaker Patricia Bullrich said that Argentina's March inflation is what most countries in the world record in twelve months

Argentine inflation in March reached 2.12% over February accumulating 29.8% in the last twelve months according to the average of private consultants, which every month is released by opposition members in Congress. This is one percentage point higher than the official March rate announced by the Argentine government's discredited stats office, Indec, 1.3%.

 However in coincidence with the official Indec rate the 2.12% (or 1.3%) marks the end of the deceleration process started six months ago with inflation again spiking in the third month of the year.

The 2.12% is also quite similar to the index from Argentina's organized labor CGT union which also has its own consumer prices index, which registered 2.1%. The unions in a strong inflation scenario are distrustful of the official index from Indec finally decided to mount their own prices gathering professional office.

“Although annual inflation remains below 30%, which is particularly complex for Argentines to make ends meet, the level of inflation for March is what the rest of the countries in the world record in twelve months”, said lawmaker Patricia Bullrich.

According to the official Indec release inflation increased 1.3% in March compared to February. Education, clothing and transportation headed the hike.

This way, according to INDEC, inflation rose 3.4% during the first three months of 2015 and 16.5% in the last 12 months.

March's increase is the highest in the last six months. Education sector prices increased 4.8%, while clothing and transportation prices went up 1.5% each. Medical care also increased 1.5%.

Meanwhile, wholesale prices jumped 1% in March compared to February and accumulate a 1.4% rise in the first three months of 2015. Taking into account the last 12 months, wholesale prices increased 15.1%.