MercoPress. South Atlantic News Agency

Argentina: August's inflation stands at 1.9%

The rise in the US dollar did not have a major impact on retail prices

Argentina's National Institute of Statistics and Censuses (Indec) released its monthly report on Wednesday, showing that inflation in August stood at 1.9%, thus extending a trend of slowing price increases.

With these results, the Consumer Price Index (CPI) so far this year has grown 19.5% and 33.6% over the past 12 months.

The category with the largest monthly increase was Transport (3.6%), driven by the cost of vehicles and fuel. Alcoholic Beverages and Tobacco also saw a significant rise (3.5%), driven by the rise in cigarette prices.

On the other hand, Clothing and Footwear prices decreased by 0.3%, while Recreation and Culture saw a minimal increase of 0.5%.

The Indec report also noted that, despite recent political and economic turbulence, the rise in the dollar did not have a major impact on retail prices.

In previous days, consulting firms and economists participating in the Central Bank's (BCRA) Market Expectations Survey (REM) estimated that August inflation would be 2.1% for the month.

By category, regulated prices (2.7%) led the increases, followed by the core CPI (2.0%). Seasonal prices (-0.8%) showed a decline, especially in clothing and some tourist services.