Inflation in Argentina has been a pressing issue, with recent data from the National Institute of Statistics and Census (Indec) revealing a 2.4% rise in November, marking a 166% year-on-year increase. This news comes as a relief to the Libertarian Government of President Javier Milei, with Presidential Spokesman Manuel Adorni stating, Inflation in Argentina RIP.
Here are some key points regarding the latest inflation figures in Argentina:
- Housing, water, electricity, gas, and other fuels had the highest impact on inflation in the Pampean, Cuyo, and Patagonia regions, while Transport saw the most significant adjustments in Greater Buenos Aires.
- Clothing and footwear saw notable increases in the northeast, while Restaurants and hotels experienced the highest rises in the northwest.
- Patagonia had the highest monthly increase at 3.3%, followed by Greater Buenos Aires at 2.6%.
President Milei has expressed his intention to lower the crawling peg rate to 1% if inflation remains around 2.5% for three consecutive months, aiming to bring the cost of living down to zero and enhance the exchange market. October’s inflation rate of 2.7% was viewed positively by the government, despite a significant year-on-year increase of 76.5% during the first ten months of the year.
Looking ahead, private consultants estimate that December’s inflation could reach 2.9%, resulting in an annual inflation rate of 118.8%. However, data for November from the Autonomous City of Buenos Aires indicated a stagnation, with inflation rates remaining at 3.2%.
In terms of specific sectors, here are the variations in inflation rates for November:
– Education: 5.1%
– Housing, water, electricity, gas, and other fuels: 4.5%
– Alcoholic beverages and tobacco: 4%
– Restaurants and Hotels: 3.6%
– Transport: 3.4%
– Recreation and Culture: 3%
– Healthcare: 2.9%
– Household equipment and maintenance: 1.5%
– Food and non-alcoholic beverages: 0.9%
Over the past year, the following categories have seen significant increases:
– Housing, water, electricity, gas, and other fuels: 276.4%
– Communications: 215.2%
– Miscellaneous goods and services: 218.7%
– Transport: 206.2%
– Healthcare: 184.4%
– Education: 180%
The latest data on inflation in Argentina highlights the ongoing challenges faced by the nation, with various sectors experiencing notable increases. As the government navigates these economic factors, it remains crucial to monitor inflation rates closely and implement effective measures to address this issue for the benefit of the citizens and the overall economy.
Leave feedback about this