Consumer prices in Argentina had a year-on-year rise of 108.8% last April, 4.5 percentage points more than last March, as reported this Friday by the National Institute of Statistics and Censuses (Indec).
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In the fourth month of the year, consumer prices grew 8.4% monthly, accelerating with respect to the rate of 7.7% of last March and going above the forecast by the market (7.5%) in the latest study by the Central Bank.
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Goods had a positive variation of 9.1% last month compared to March, while services rose 6.6%, data that amount to 110.9% and 103%, respectively, in the year-on-year comparison .
Among the highest increases registered in April by INDEC, the items “clothing and footwear” stood out (28.9% monthly and 120.7% annually), due to the change of season; followed by “food and non-alcoholic beverages” (41.2% monthly and 115% year-on-year), which had the highest incidence in all regions, due to the increase in meat, vegetables, dairy products, and eggs.
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There were also increases in the categories of “restaurants and hotels (35.4% monthly and 126.6% year-on-year); and “home equipment and maintenance” (27.3% monthly and 111.3% year-on-year), while those with the least variation were “education” (41.3% monthly and 98.5% year-on-year) and alcoholic beverages and tobacco (26.9% monthly and 114.3% year-on-year).
In all of 2022, Consumer prices had accumulated a rise of 94.8%, with a notable acceleration compared to 50.9% in 2021.
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Argentina, which must comply with the requirements of an agreement signed last year with the International Monetary Fund (IMF) to refinance a million-dollar loan granted in 2018- drags a complicated economic situation marked by the shortage of international currencies and the devaluation of the peso, which is usually transferred from month to month in an increase in the prices of goods and services.
EFE
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