Tag: Congress inflation indexCongress inflation index
Argentine inflation rose 1.4% during July leaving consumer prices 16.7% higher than at the beginning of the year, official data showed on Friday. The July index was slightly higher than the 1.3% of June and confirms Argentina is experiencing one of the highest inflation rates in the world and only second to Venezuela in Latin America.
Inflation in Argentina during the month of June reached 2.2% accumulating 39.9% in the first half of the year, according to the average of private consultants, which is also identified as the Congressional index. The announcement comes a few hours after the official rate from the Indec stats office was released, 1.3% and 15%.
Argentina's consumer price index revealed an inflation rate of 1.4% for May, down from 1.8% in the previous month announced on Friday Economy Minister Axel Kicillof at a press conference held at the Ministry in Buenos Aires. In the first five months of the year inflation stands at 13.5%.
Official inflation in Argentina during March was 2.6%, according to Economy minister Axel Kicillof who underlined that during the month there was a considerable deceleration in the increase of prices, in most items with the exception of clothing and private schooling.
Argentina's inflation in January climbed to 4.61% and 30.78% in the last twelve months according to the average from private consultants estimates which are released every month by opposition lawmakers in what is known as the 'Congressional index'.
Argentine annual inflation for 2013 was 28.38% after soaring 3.38% in the month of December alone, according to the Congressional consumer price index, which is a survey that takes the average of several consultancy firms.
Argentines are expecting an inflation of 34.2% in the coming twelve months according to the average from a monthly report released by a prestigious private university research centre based on surveys,
Despite the efforts from the administration of President Cristina Fernandez that brokered a price freeze for another two months with the main supermarket chains of Argentina, March inflation according to the average of private estimates stood at 1.54% and 24.43% in the last twelve months.
With insistent rumours of imminent measures to try and control the value of the US dollar in Argentina, Central Bank Governor Mercedes Marcó del Pont, stressed that the country has more than 40 billion dollars in reserves to manage the foreign exchange market avoiding sharp changes.
Argentines expect inflation to reach 33.5% in the next twelve months, according to the latest report from the Finance Research Centre, CIF, which belongs to the Torcuato Di Tella University. This is half a percentage point higher than the previous release.