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Inflation in Argentina Hit 3.2% in November

The rate was higher than expected, the yearly accumulated rate being 43.9 percen

By | [email protected] | December 14, 2018 12:33pm

Consumer inflation in November was 1.4 percent according to the INDEC
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Argentina’s inflation rose by 3.2 percent in November, according to the latest report by the Indec statistics agency. Even though the figure represents a 2.2 percent decrease compared to October (5.4 percent) and less than half of September’s (6.5 percent), this comes as negative news, as both the government and private analysts expected it to be much lower. During the days prior to the release of the report, analysts and reporters placed it closer to a range between 2.5 and 2.7 percent.

So far this year, prices have increased by 43.9 percent, and the inter-annual rate stands at 48.5 percent.

The month’s figure was mainly pushed by increases in the prices of private health insurances (5.7 percent), alcoholic drinks and tobacco (4.6 percent) and “other goods and services” – a category encompassing those that do not have a category of their own in the measurement index – with a 4.4 percent monthly increase.

Moreover, the report shows that so far this year, prices in sectors affecting the daily lives of Argentines such as transportation, foods and non-alcoholic beverages and house supplies have increased more than the average inflation rate: transport prices increased by 62.9 percent, foods and non-alcoholic beverages by 48.6 percent and house supplies by 47.3 percent.

Last year, the government announced prices in 2018 would increase between 10 and 15 percent.