MercoPress. South Atlantic News Agency

Buenos Aires inflation 3,7% in 2003.

The Consumer Prices Index for the city of Buenos Aires and metropolitan areas increased 0,2% last December totalling 3,7% for the twelve months of 2003.

According to the Argentine Statistics and Census Institute, (Indec), Leisure, Health services, Housing and Basic services last December increased between 3,1% and 0,1%, while Food and Beverage dropped 0,3%, Education 0,1% with Transport, Clothing, Communications and Others remaining flat.

The basic Indec basket is made up of 53% in goods which experienced a negative expansion of 0,3% in December, and 47% services with a positive growth of 1%. Compared to December 2002 this represents a 2,7% increase for goods, and 5,2% for services.

However compared to December 2001 when the Argentine economy collapsed, the Consumer Prices Index jumped 45,1%, with a particularly strong emphasis in Food that skyrocketed 74,9%.

The Wholesale Domestic Prices Index increased 1,8%, with primary products expanding 4,5%, and manufactured goods and electricity 0,8%. The wholesale imported products prices index experienced 2,6% growth.

In the construction industry, one of the most dynamic of the Argentine economic current recovery, the price index expanded 1,1% last December compared to the previous month, with an annual growth of 8,5% between December 2002 and 2003.