The Consumer Price Index (CPI) in Argentina stood at 113.4% in July in the accumulated 12 months, as reported this Tuesday (15) by the National Institute of Statistics and Censuses (Indec), in a scenario where analysts project an even greater acceleration as of August.
In the seventh month of the year, consumer prices grew by 6.3% in relation to June, resuming a little momentum after the timid decelerations in May (7.8%) and June (6%) – the monthly variation had been 8.4% in April.
Among the increases registered in July, those of communication services stand out (12.2%), as a result of the increase in tariffs for telephone and internet services. Then come recreation and culture (11.2%), mainly due to increases in tourist packages for the winter holidays, and alcoholic beverages and tobacco (9%).
In the first seven months of the year, inflation accumulated an increase of 60.2%. Last year, consumer prices had accumulated a rise of 94.8%, with a notable acceleration compared to the rate of 50.9% recorded in 2021.
Due to the sharp devaluation of the Argentine peso registered on Monday (14th) after the victory of the libertarian Javier Milei in the primaries of the presidential elections, analysts already project that the numbers for August and September should exceed two digits in the monthly variation.
The consultancy EcoGo estimated to the newspaper La Nacion that inflation should be 11% this month, with September reaching 13%. Gabriel Caamaño Gómez, director of consultancy Ledesma, recalculated the high in August to 11% – before the currency devaluation, his projection was 8.5%. For September, the analyst also estimated double-digit inflation. Already the consultancy LCG predicts high of 14% in August and 12% in September.
“In July, you can see the beginning of a slight acceleration,” Lorenzo Sigaut Gravina, from consultancy Equilibra, told La Nacion. “But the most interesting thing will be seen in August and September, due to the strong devaluation of the exchange rate [paralelo] and official. The increase will be distributed in these two months”, he projected. (With EFE Agency)
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