MercoPress. South Atlantic News Agency

Argentina's May official inflation 1% or half that claimed by private consultants

According to Indec in May Clothing was up 2%; Housing and Basic Services, 1.6%; Education, 1.3%; Home Appliances, Transport, Communications, 1.1%.

Argentina's National Statistics and Census Institute, Indec reported on Monday that the inflation rate for May reached 1%, totaling 15.3% in the last twelve months and 5.7% for the first five months of 2015.

 These percentages are quite different from those managed by private consulting agencies and other provincial or city indexes made public earlier in the month.

In May according to the much questioned Indec stats, the sectors which increased at the fastest rate were Clothing, at 2%; Housing and Basic Services, 1.6%; Education, 1.3%; Home Appliances and Maintenance and Transport and Communications, which rose 1.1%.

The figures are half those claimed by private consultants which the opposition reveals as the Congress index, which asserted 2% inflation for May.

In effect the Congressional index for May climbed 2% reaching 28,7% in the last twelve months. The index is the average of the main private consultants from Buenos Aires which until a couple of years ago were banned from releasing them publicly so they supplied them to the Lower House Freedom of Expression Committee, and its opposition members turned into a milestone reference for the Argentine economy.

Likewise according to the stats office from the City of Buenos Aires, inflation in May reached 2.2% and 26,7% in the last twelve months as consumer prices again started to climb. So far this year (five months) the CPI in the City of Buenos Aires stands at 10%, which compares favorably to the same period a year ago: 19.8%.

Utility rates, housing costs and taxi fares, where the main items in the Buenos Aires City May 2.2% jump, followed by rents, cable and internet services, education and consumption outside home.