Argentina’s consumer prices rose 1.3 percent in January, according to the Government’s statistics agency, INDEC. The figure is 0.1 percent higher than the agency had estimated for last month and, should it stay the same throughout the year, the Government would meet its goal of a 17 percent inflation rate for 2017.
Indec’s results, however, clash with those generated by a number of private analysts, which concluded that inflation for January actually clocked in at 1.6 percent. A difference of 0.3 percent might not seem catastrophic, but if private analysts’ are right every month with their marginally higher figures, the number could increase substantially.
This month’s rate is thought to be primarily down to price increases in a few key industries. These include: leisure (4.7 percent) — possibly business owners taking advantage of people’s willingness to spend more while on vacation — transportation and communications (2.3 percent); food and drink (1.6 percent) and private healthcare (1.4 percent). In contrast, the price of clothing on average decreased by 2.2 percent during the first month of the year, compared to December 2016.