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Argentine ‘official’ November inflation reached 0.6% and 8.6% in eleven months

Saturday, December 17th 2011 - 03:24 UTC
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Indexes from Indec continue to be controversial Indexes from Indec continue to be controversial

The consumer price index in Argentina during the month of November increased 0.6% according to the official stats office Indec, which is less than half the percentage released by private estimates through the so called Congress inflation index.

For the controversial Indec inflation in Argentina during the last eleven months reached 8.6% and 9.5% in the last twelve months, which contrasts openly with the Congressional index which marked 1.44% in November and 22.63% in the first eleven months of the year.

According to Indec the item with the greatest increase was clothing with 1.3%, followed by education, 0.9%. Food and Beverage was 0.7%; home equipment and maintenance, 0.7% while Housing and basic services, 0.4%.

Transport and Communications climbed 0.3% while health service and expenses plus Leisure were also up but 0.2%.

For Indec the total number of goods which make up 62% of the basket was up 0.7% while services which make the remaining 38%, increased 0.4%.

Wholesale prices in November were up 0.9%; Basic wholesale prices 0.9% and Basic Producer prices 0.8%.

Categories: Economy, Argentina.

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  • ChrisR

    So it's official then: more bollocks spoken by the Argentinean govt.

    Pity it's only a third of the real inflation rate to working people and probably a fifth for pensioners.

    And wait until the avowed policy of the Central Bank to devalue the Pesos starts to tighten even further than it already has: my prediction 35% - 38% Aug 2011 -July 2012.

    Dec 17th, 2011 - 02:09 pm 0
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