Inflation in Argentina rose to 114.2% in May

The Consumer Price Index (CPI) for Argentina registered an increase to 114.2% in May, in comparison with the 108.8% presented in the immediately previous month. This was confirmed by the Official Institute of Statistics, Indec.

(See: Inflation in Argentina could reach 126.4% by 2023)

Argentina’s annual consumer price index (CPI) registered an increase to 114.2% in May, compared to 108.8% in the immediately previous month. This was confirmed by the Official Institute of Statistics, Indec.

According to the statistical institution, the figure for the general level of the CPI showed a monthly rise of 7.8% in May, accumulating a total variation of 42.2%.

It should be noted that despite the fact that the annual figure had a significant increase, the monthly data registered a decrease compared to the result of Aprilwhich placed the Argentine CPI at 8.4%.

This behavior was explained by the greater increase in the group of housing, water, electricity and other fuels with an increase of 11.9%, as a result of the increase in rates in electricity and natural gas services by network.

(See: How Argentines live with an annual inflation that is close to 109%)

followed by restaurants and hotels with 9.3% and health with 9%the latter being explained by the increases in medicines and in the fees of prepaid medicine companies.

Similarly, INDEC assured that the divisions that generated lower variations in May were the segment of food and non-alcoholic beverages, which registered a figure of 5.8% in the fifth month of the year, likewise, the education division that presented a variation of 4.9%, in the same period.

However, in the breakdown by region, the report from the statistical office highlights that consumer prices in May for the Argentine Northwest registered a variation of 8%, as did the province of Greater Buenos Aires (GBA) which also reached 8%.

Other variations were in Pampeana, which had a monthly CPI of 7.7%, followed by Cuyo with 7.5% and the Northeast and Patagonia with 7.3%, for each region.

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According to indecthe division with the highest incidence in all regions of the South American country in May it was the category of food and non-alcoholic beverageswhich registered an increase of 5.8%. “Inside the division, the increase in bread and cereals and milk, dairy products and eggs impacted”highlights the statistical office.

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