The consumer price index (CPI) in Argentina stood at 211.4% year-on-year in December, after growing 25.5% compared to November, the National Institute of Statistics and Censuses (Indec) reported this Wednesday.
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In the twelfth month of the year, Consumer prices grew 25.5% compared to November, evidencing an acceleration with respect to the monthly rate of 12.8% that had been registered in November.
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With this figure, Argentina also surpasses Venezuela (193%) as the country with the prices that rose the fastest in Latin America.
According to the official report, Last month, goods had a positive variation of 29.5% compared to November, while services rose by 14.1%, data that amounts to 228.7% and 165.5%, respectively, in the year-on-year comparison.
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Among the increases registered in December, those in various goods and services (32.7%), health (32.6%) and transportation (31.7%) stand out, as a result of the increases in medicines and fees of private medicine companies.
The price of food and non-alcoholic beverages grew by 29.7% compared to November and 251.3% year-on-year.
In the twelve months of the year, Inflation accumulated an increase of 211.4%.
Consumer prices had accumulated an increase of 94.8% in 2022, with a notable acceleration compared to the 50.9% verified in 2021.
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The Government of Javier Milei, who took office as head of the Executive on December 10, had warned that between this December and next February there could be monthly inflation rates of between 20 and 40%, but he assured that he will seek, with the fiscal plan of 'shock' announced at the beginning of his mandate, to avoid hyperinflation of 15,000% annually.
The figure recorded this Thursday by Indec is the highest since the hyperinflation of 1989-1990, when Argentina was in the final phase of its most acute hyperinflationary period in recent decades.
EFE
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