Inflation in Argentina exceeded 115% in its annual variation in June

The Prices in Argentina rose 1.4 percentage points in June compared to the previous month and placed the year-on-year rate at 115.6%reported this Thursday the National Institute of Statistics and Censuses (Indec).

(See: Inflation in the US falls to its lowest level since before the pandemic).

In the sixth month of the year Consumer prices grew 6% compared to last May, which shows, for the second consecutive month, a slight deceleration with respect to the inflation rate of 8.4% April and 7.6% in May.

The goods had last month a positive variation of 5.5% compared to May, while services were up 7.2%data that rise to 115.7% and 114.8%, respectively, in the interannual comparison.

Between The increases registered in June include those of communications (10.5%), as a result of the rise in telephone and internet services, health (8.6%), due to increases in medicines and in the fees of private medical companies, and housing expenses (8.1%), mainly due to increases in electricity.

(See: Why high-income households are ‘weighted’ more by inflation).

But the division with the highest incidence was food and non-alcoholic beverages, with an increase of 4.1% in relation to May and 116.9% in interannual terms. In the first half of the year, inflation accumulated a rise of 50.7%.

Consumer prices accumulated last year a rise of 94.8%with a notable acceleration compared to the 50.9% verified in 2021. The most recent private forecasts collected monthly by the Central Bank suggest that inflation will be 142.4% this year and 105% in 2024.

(See: With the drop in inflation, would interest rates be reduced?).

EFE