Argentina's April inflation climbed to a record 6.7%, and 19.4% in the first four months of the year, according to the latest Congress Index, announced on Tuesday. Public utility rates were blamed for two thirds of the April increase, the highest for a month since 2002.
The utility rates increases explain more than two thirds of the month's inflation, determining to great extent the magnitude of the monthly variation, said a release from the Congress Index committee. The first quarter inflation in 2015 was 8%.
However in April other items also increased above 2% in the month, food and beverage, as well as education and health services. This means that hard core inflation remained above 2% during the month. Food and beverage, reported 35% jump in the last twelve months.
The 6.2% rate for April and 13.6% so far this year, represents 41.7% year on.
The news on Tuesday was also the fact that the announcement was a release, when usually a group of lawmakers from the Freedom of Expression committee explain the significance of the inflationary rate.
The Congress index was born in May 2011, following on the ban imposed by the Cristina Fernandez administration to release private estimates, when it was well known that the official stats office, INE, percentages suffered cosmetic accountancy to satisfy the goals of the government. The Congress index was normally double the official INE rate from the Cristina Fernandez administration.
The release of private consultants estimates were exposed and threatened with fines and other reprisals.
However some members of the Congress Index committee of the time are now officials from president Mauricio Macri's government.