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Argentine Congressional index inflation: 2.2% in June and 39.9% in six months

Thursday, July 17th 2014 - 06:36 UTC
Full article 8 comments
Housing and public utilities were the items with the largest increases in June Housing and public utilities were the items with the largest increases in June

Inflation in Argentina during the month of June reached 2.2% accumulating 39.9% in the first half of the year, according to the average of private consultants, which is also identified as the Congressional index. The announcement comes a few hours after the official rate from the Indec stats office was released, 1.3% and 15%.

The congressional index was announced by opposition members from the Freedom of Expression committee, as has been happening for several years.

In June the items with the main impact were Housing and public utilities such as power, gas and drinking water. Something similar happened with Healthcare and to a lesser extent with items which make up the basic basket.

However the two indexes, Indec and Congressional coincide that June showed a lessening of the increase strain that dominated 2013 and which since last January has been declining: 4.6% in January; 4.3% in February; 3.3% in March; 2.78% in April and 2.28% in May.

In related news the Argentine budget deficit in the first five months of the year more than doubled (119%), over the same period a year ago, according to a release from the Ministry of Economy. However if the support to the budget from the Central Bank and the pensions’ fund are not included the gap compared to 2013 would be even larger: 146%.

Meanwhile in the money exchange market, the so-called “blue” dollar went up for the third day in a row on Wednesday, by 10 cents, to 12.20 Argentine pesos in the parallel market. Meanwhile, the US dollar traded unchanged at Buenos Aires City banks and foreign exchange offices and closed at 8.17 pesos.
 

Categories: Economy, Politics, Argentina.

Top Comments

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  • ilsen

    Further proof that the K-administration are a bunch of crooks and liars...

    Jul 17th, 2014 - 09:14 am 0
  • yankeeboy

    The economic activity is cratering. How its possible to have 40% yoy inflation with nobody working is simply flabbergasting.
    What a crazy place.

    I don't see any other outcome but default, devalue, hyperinflation, crash.

    Whether it is in 3 weeks or a year it will happen regardless of the an agreement with the holdouts.

    Jul 17th, 2014 - 10:42 am 0
  • Welsh Wizard

    This is the worrying thing about this story ”In related news the Argentine budget deficit in the first five months of the year more than doubled (119%), over the same period a year ago, according to a release from the Ministry of Economy. However if the support to the budget from the Central Bank and the pensions’ fund are not included the gap compared to 2013 would be even larger: 146%.”

    Serious problems...

    Jul 17th, 2014 - 10:52 am 0
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