MercoPress. South Atlantic News Agency

Argentina’s retail inflation climbs 0.8% during October

Education and apparel costs had the most influence in the latest index

Argentina’s consumer price index increased 0.8% during October, according to the official Statistics office, Indec. The education and apparel industries were the ones that most gained. The main private pollsters were expecting the retail prices index to rise between 1 and 1.3%.

Education grew 1.4%, apparel 1.3%, and other goods and services 1.4%. The sectors with less growth were Medical Attention, Health Costs, and Transport and Communications with 0.3% and Basic Services with 0.6%.

The consumer price index is composed of goods that represent 62% of the basic basket and which varied 1%, while services, which represent 38% of the index varied 0.4%.

In the months to October inflation is Argentina accumulates 5.8%. This figures differs several points with private pollsters that estimate this year’s inflation to end in the range between 15 and 17%, in spite of admitting that the consumer prices index has slowed down in the last few months.

Wholesale prices during October advanced 0.9%. Meanwhile the construction cost index for September soared 2.3%, with labour representing the highest increase, 4.6%.