MercoPress. South Atlantic News Agency

Argentina's June official Indec inflation, 1% and 15% in twelve months

The Congress index released on Tuesday showed the CPI was up 1.53% and 27.9% in the last twelve months.

Argentina's 'official' inflation during June was 1% over the previous month according to the National Statistics and Census Institute, Indec, while prices during the current calendar year prices have reached 6.7% and 15% over the last twelve months.

 The figure is below that claimed by the Argentine opposition in its IPC-Congress index. The statistics drawn up by private consultants and released on Tuesday asserted an inflation rate of 1.53% for June, with annual inflation at 27.9%, almost double the Indec estimate.

In June, a rise in cigarette prices of 10% pushed figures in the 'Other goods and services' category, which climbed 3.2%. 'Leisure' was also among the highest-risers, with a growth of 1.7% pushed by raises in tourism and long-distance transport prices.

Food and drink rates, meanwhile, increased under the overall average with a growth of 0.5%. Housing and basic services as well as Education also recorded 0.5%, while Healthcare was up 1.2%, following the government's authorization to increase the price of pharmaceuticals.

The June CPI rate is in line with this year's performance in the previous five months, March, 1.3%; May, 1%; April and January, 1.1% and February, 0.9%.

Based on these percentages the Cristina Fernandez administration is confident that 2015 inflation will be in the range of 15%.

However July could see an increase in inflation since it's the month of winter holidays in Argentina and seasonal services linked to tourism, leisure and transport, are expected to climb.