Argentina’s consumer prices rose 1.2 percent in December, according to the government’s INDEC statistics agency. The figure represents a 0.4% drop compared to November’s rate of 1.6 percent and is half of October’s rate, which clocked in at 2.4 percent.
The central cause behind this month’s rate is thought to be the increase in the prices associated with leisure activities — possibly business owners taking advantage of people’s willingness to spend more while on vacation. That’s unheard of — and home supplies, both of which went up by 2 percent.
Indec’s numbers, however, present pretty important differences with the indexes generated by different sectors opposed to the Macri administration. The statistics put up by members of the opposition in Congress indicated that inflation clocked in at 1.6 percent in the last month of 2016, while the CGT umbrella union’s indicated a 1.5 percent increase in prices in the same time period.
Let’s recall that even though these figures were the last of 2016, the agency didn’t include a yearly compassion of inflation because the Macri administration declared a “statistics emergency” when taking office in December 2015. This allowed Indec to not release official figure from that time frame in order to accelerate the agency’s recovery process, as its numbers were considered to be widely untrustworthy by the time the former administration left office.
However, an average taken from the numbers from private firms indicates that 2016’s annual inflation hovered around 40 percent, the largest number in 14 years. The Government’s goal for 2017 — when it comes to inflation — is keeping inflation between 12 and 17 percent. Private firms, however, already estimate the number will break the 20 point barrier.