Argentina: Inflation slows for the second consecutive month in July
August 15, 2019
National consumer prices rose 2.2% over the previous month in July, coming in below June’s 2.7% month-on-month increase and marking the lowest reading in 14 months, according to the National Statistical Institute (INDEC).
July’s slowing was mainly driven by softer price increases for food and non-alcoholic beverages, clothing and footwear, housing maintenance and furnishing, and transport. On the other hand, faster price rises were recorded for education, recreation and culture, and restaurants and hotels.
For its part, inflation eased for the second successive month, coming in at 54.4% in July (June: 55.8%). Meanwhile, annual average inflation edged up to 49.6% from 47.7% in June.
Author: Javier Colato, Economist