Argentina: Buenos Aires inflation decreases in August
September 26, 2016
In August, consumer prices in the greater Buenos Aires capital area increased 0.2% over the previous month, according to recent data published by the National Statistics Institute (INDEC). The figure marked a deceleration over the 2.0% increase recorded in the previous month. INDEC attributed the monthly slight increase to higher prices for food and drink, while prices for housing recorded a decrease. Inflationary pressures remain high due to the steep depreciation of the currency after the removal of currency controls and to the scrapping of utility subsidies.
INDEC did not release inflation figures and announced that it would start publishing year-on-year variations in consumer prices when a base of comparison is available. Data compiled by the City of Buenos Aires show that in August, inflation decreased for the first time in nearly a year and now stands at 43.5%. The figure was down from July’s 47.2% reading.
Author: Dirina Mançellari, Senior Economist