Argentina: Buenos Aires inflation increases further in February
April 9, 2016
Consumer prices in February increased 4.0% 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 4.1% rise seen in the previous month, which had marked the fastest increase in nearly two years. In February, inflation in the City of Buenos Aires was 32.9%. The figure was up from the 29.6% increase 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. 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