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.