Consumer prices increased by 1.8 percent in January 2018, reaching an annual rate of 25 percent. (Photo via Noticias Argentinas / Daniel Vides)

Consumer prices were 1.8 percent higher in the first month of 2018 than in the previous month and 25 percent higher than in January 2017 according to figures published today by the INDEC statistics bureau.

The figures showed that regulated prices increased by 2.1 percent, core inflation clocked in at 1.5 percent and prices with seasonal changes were up by 2.7 percent on average across the country. Core inflation amounted to 0.95 of the 1.8 percent increase in Greater Buenos Aires, with regulated prices amounting to 0.3 percentage points.

In terms of the regions of the country, the inflation rate was highest in Patagonia (2.6 percent) and lowest in Cuyo (1.5 percent). The rate in Greater Buenos Aires, the most densely populated part of the country by far, was 1.6 percent.

The first results for January are in line with the result for 2017, which turned up an annual inflation rate of 24.8 percent. The target for the inflation rate this year is 15 percent.

In January 2017 the monthly inflation rate was 1.3 percent.