Argentina: Buenos Aires inflation hits highest level in over a year in March
May 12, 2016
Consumer prices in March increased 3.3% over the previous month, according to the inflation index reported by the National Statistics Institute (INDEC) covering the city of Buenos Aires. The reading came in slightly below the 4.0% rise seen in the previous month. In March, inflation in the City of Buenos Aires was 35.0%. The figure was up from the 32.9% observed in the previous month and marked the highest reading in over a year.
As part of the overhaul, Argentina’s new government has recently reformed the country’s statistical office by changing the staff and methodology. The INDEC has announced that official figures of the national consumer prices index will not be available until later this year. As a result, in the meanwhile, the statistical office is reporting statistics for the city of Buenos Aires and the province of San Luis as a proxy to estimate the change in consumer prices.
Author: Dirina Mançellari, Senior Economist