Inflation in Argentina during the current month of August could drop to 0.7% because of the Supreme Court’s decision to strike down the hikes in natural gas prices for residential users, according to the official stats office Indec. Similar stats also indicate a strong contraction of the Argentine economy.
Argentina had 9.3% unemployment in the second quarter of the year, the government's Indec statistics agency said in a report on Tuesday. It was the first official unemployment data to be published by Argentina since Mauricio Macri became president in December.
Argentina released inflation figures for the first time since December last year, when newly elected president Mauricio Macri suspended the publication of economic data and intervened the official stats office, Indec, following long standing claims of manipulation by his predecessor.
Consumer prices rose 6.5% in December in the Argentine province of San Luis, one of the indexes the new leaders of the country's INDEC statistics bureau had said could be used as a proxy for national inflation figures — amounting to a cumulative 31.6% increase in 2015.
Argentine finance minister Alfonso Prat-Gay announced on Friday that next week levies on farm (grains and oilseeds) exports will be lowered, the half year bonus of wage earners if below 30.000 Argentine Pesos will be exempt from income tax, and the policy of looked-after prices at supermarkets will continue.