Argentina: Inflation inches down in November
December 17, 2010
In November, consumer prices added 0.73% over the previous month, which was down from the 0.84% price increase registered in October. The price rise was broad-based, with all major categories rising over the previous month. That said, higher prices for clothing as well as for housing were the main drivers behind the November increase. Owing to the more moderate price increase, annual headline inflation inched down from 11.1% in October to 11.0% in November. However, official inflation data published by the National Statistics Institute (INDEC) continues to be met with suspicion ever since a controversial change in the methodology to measure price variations was implemented over two years ago. Consumers share this more realistic assessment of inflation. According to a survey from Universidad Torcuato di Tella (UTDT) conducted in December, Argentinean households believe that consumer prices will increase 30% over the next 12 months, which is unchanged from the November result.
Author: Armando Ciccarelli, Head of Data Solutions