MercoPress. South Atlantic News Agency
June inflation in Argentina reached 1.3% and 15% in the first half of 2014
Housing, basic services plus healthcare were the items with the highest rises June inflation in Argentina reached 1.3%, accumulating 15% in the first six months of the year, according to a release from the country’s stats office Indec. The release also revealed the wholesale prices had increased 1.5% in June, while locally-made products saw rises of 1.5%.
According to the data collected by the National Urban Consumer Price Index (IPCNu) the food and drink sector - the area which most affects those on lower incomes - registered increases of 0.8%.
Housing and Basic Services saw the largest rises, at 3.3%, followed by Medical Attention and Health Expenses with 3.1%.
The education sector was up 1.3%, while Clothing rose 1.1% and Transport and Communications, 0.7%.
The increase of 1.3% represents the fifth consecutive month since January, (when the inflation recorded was 3.7%), that the rate reported by INDEC has decreased.
In February Indec reported inflation of 3.4%; in March 2.6%; in April, 1.8% and 1.4% for May.
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Read all commentsI suspect that the annual rate strippi out to controlled prices will look closer to 40% yoy inflation. At this rate of decrease as per the INDEC figures, Argentina will be entering a deflationary spiral sometime aroud christmas. Not what I hear from the people on the ground. They just tell me that they can't afford anything as inflation is killing them.
Jul 16th, 2014 - 08:49 am 0There's another devaluation right around the corner. They are pumping at least $170B pesos into the economy by year end.
Jul 16th, 2014 - 10:59 am 0Regardless of default or not this is going to get much worse before it gets any better.
Well done Kirchner, world leaders in inflation....
Jul 16th, 2014 - 12:05 pm 0But please, keep telling us that this is all a lie, a conspiracy, etc, since everything is fair and square in Argentina´s economy.
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