Argentina's Consumer Price Index (CPI-Cost of Living) increased 3% in July, according to a report from the National Institute of Statistics and Censuses (Indec) released Thursday.
The new index came out two tenths below June's 3.2% in June, and reached the fourth consecutive month of slowdown.
So far in 2021, retail prices increased 29.1%, formally exceeding the inflationary pattern that the national government had planned for the year.
The new results yield a yoy inflation of 51.8%.
The Indec reported that goods increased 2.9% and services 3.1%, while seasonal products advanced 4.9%, regulated services 1.4%; and the Core CPI, 3.1%.
Food and Beverages registered a rise of 3.4%; health care 3.8%; alcoholic beverages and tobacco 3.1%; housing, water and electricity 2.9%; Education 2.5%; and restaurants and hotels 4.8%.
So far this year, retail inflation has risen to 29.1%; with increases of 30.7% in food and beverages; 35.1% in transportation; 40.6% in education; 29.6% in health care and 31% in clothing.
Indec also reported that in that period goods increased 31.3% and services 23.8%
When the prices of July of last year are compared with the same month of this year, the average rise reached 51.8%. Above this line were food and beverages; with 56.4%; transportation 62.9%, clothing, 61.7%; health care 54.4%; and restaurants and hotels with 54.3%
Below the average inflation rate, there were advances of 30.6% in housing, water, electricity and other fuels, 46.4% in home appliances and maintenance; 27.6% in Communications and 35.5% in goods and services and yoy goods rose 57.9% and services 38.2%.
Thursday's figures confirmed Economy Minister Martín Guzmán's forecast that inflation would slow down gradually after a 4.8% increase in March.
Deputy Cabinet Chief Cecilia Todesca Bocco admitted that inflation had been decreaasing at a pace lower than the one the Government would have desired and therefore the 29% inflation projected for 2021 has become unattainable.
She also explained there was a very strong international price shock during the first months of the year and this had an impact on an economy that was working on a high level of inertia.