Argentina: June puts an end to five months of accelerating inflation
National consumer prices rose 2.7% over the previous month in June, coming in below May’s 3.1% month-on-month increase, and marking the lowest reading in six months, according to the National Statistical Institute (INDEC).
June’s slowing was prompted by lower increases in prices for clothing and footwear, housing maintenance and furnishing, education and transport. Some strengthening of the peso was also behind easing price pressures. On the other hand, faster price rises were recorded for communication, and recreation and culture.
Meanwhile, inflation dropped for the first time this year, and came in at 55.8%, following May’s new multi-year high of 57.3%. Meanwhile, annual average inflation increased from 45.5% in May to 47.7% in the sixth month of the year.