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Montevideo, July 4th 2020 - 13:14 UTC

 

 

Argentines would like to buy at “official” inflation and be paid in real inflation

Friday, July 15th 2011 - 06:21 UTC
Full article 2 comments
Clothing was the item with the greatest impact in June Clothing was the item with the greatest impact in June

According to Argentina’s statistics office Indec consumer inflation was 0.7% pushed mostly by the cost of clothing. However private economic consulting offices estimate the index was double the official announcement.

Indec inflation in the last twelve months reached 9.7% and 4.7% in the first half of 2011. But the so called Congress inflation index released on Wednesday was 1.52% and totalling 25% in the last twelve months,

The wholesale prices index in June was 0.9% and 6.1% so far this year. The cost of construction has risen 0.7% and 6.3% in the first half of 2011.

The consumer inflation item which had the highest impact in June was clothing with 1.7%, followed by home equipment and maintenance, 1% and transport and telecommunication, 0.8%

Food and beverage; education and housing and basic services increased 0.6% while medical attention and health care, 0.5%. According to Indec in the food item, peppers soared 14,.2%; lettuce, 6.9% and tomatoes, 6.8%. On the other extreme oranges were down 19.6%; lemon, 10.2% and carrots, 6.3%. Fruits overall increased 1.6% in June; dairy and poultry produce 0.7%; cooking oil, bakery and vegetables, 0.6% and beef, 0.4%.

“Items which represent 62% of the basket suffered an increase of 0.9% while services which represent the remaining 38%, experienced a variation of 0.4% compare to the previous month (May)”, said the Indec report.
 

Categories: Economy, Argentina.

Top Comments

Disclaimer & comment rules
  • GeoffWard2

    This would be called 'having your cake and eating it too.'

    Jul 15th, 2011 - 07:45 pm 0
  • ElaineB

    Is the headline a play on the joke about Argentines? I have heard it in so many other SoAm countries.

    “How do you get rich quick? Buy an Argentine for what he is worth and sell him for what he thinks he is worth.”

    No offence to Argentines, it is just one of the many jokes one hears when travelling and it seemed like the article was alluding to it.

    Jul 16th, 2011 - 11:20 am 0
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