MercoPress. South Atlantic News Agency

Argentina: Inflation in July reaches 4%, Indec says

Below par were “Communications” (3.5%), “Miscellaneous Goods and Services,” and “Household Equipment and Maintenance” (3.5% each), Indec's report showed

Argentina's Consumer Price Index (CPI) went up 4% in July, the National Institute of Statistics and Census (Indec) announced Wednesday in Buenos Aires. Thus, interannual inflation stood at 263.4%. So far in 2024, prices rose by 87%.

The item with the highest increase in July was “Restaurants and hotels” (6.5%), followed by ”Alcoholic Beverages and Tobacco (6.1%),“ driven by an increase in cigarettes.

Not so far behind were ”Housing, Water, Electricity and Other Fuels” (6.0%) given the adjustments in home rental, expenses, and water supply.

Nationwide, “Food and non-alcoholic beverages” went up 3.2%, with “Fruits and Vegetables, Tubers and Legumes” standing out. Meanwhile, in the Northeast region, Housing, Water, Electricity and Other Fuels“ took the bulk of household budgets.

July's lowest variations were recorded in ”Clothing and footwear” (1.6%) and “Transport” (2.6%). Other items that exceeded average increases were “Healthcare” (5.8%), “Recreation and Culture” (5.7%), and “Education” (4%).

Below par were “Communications” (3.5%), “Miscellaneous Goods and Services,” and “Household Equipment and Maintenance” (3.5% each).

Over the last twelve months, yoy variations above the 263.4% CPI were “Miscellaneous Goods and Services” (320.5%), “Communications” (318.5%), “Housing, Water, Electricity, Gas and Other Fuels” (306.6%), ”Transport (289.5%), “Healthcare” (281.3%), “Food and Non-Alcoholic Beverages” (275.8%).