Buenos Aires Times

economy ECONOMIC INDICATORS

INDEC: Inflation rose to 3.7% in June

INDEC posts highest monthly recorded figure of the last two years. Prices have now risen 16% in the first six months.

Tuesday 17 July, 2018
The government's initial estimate for annual inflation has been surpassed.
The government's initial estimate for annual inflation has been surpassed. Foto:NOTICIAS ARGENTINAS

More Argentina News

Inflation in June increased 3.7 percent, the INDEC national statistics bureau announced today, the highest monthly recorded figure of the last two years. 

June's figure – which was led by increases in transport (5.9 percent), food and non-alcoholic beverages (5.2 percent) and healthcare (4.3 percent) – means that prices have risen 16 percent in the first half of the year alone, with annual inflation over the last 12 months reaching 29.5 percent, one of the world's highest registered rates.

Consumer prices had reached 2.1 percent in the previous month, and 26.3 percent in the 12 months through May.

Last December, the government set a 15-percent target for the whole of 2018, though officials were forced to lower expectations following the impact of the peso’s fierce devaluation in the second quarter, which saw it drop by 30 percent. That prompted the government to seek a US$50-billion financing deal with the International Monetary Fund (IMF).

INDEC's latest data means the government's original target has now been surpassed in the first six months of the year alone.

Private consultancy firms have predicted that annual inflation will come in at around 30 percent and forecast lower rates of growth.

Core inflation last month stood at 4.1 percent, also the highest recorded since 2016.

- TIMES/AP/AFP/NA

Poll

Op-Ed

Top Stories

  1. 1Severe turbulence injures 15 on Aerolíneas Argentinas flight from MiamiSevere turbulence injures 15 on Aerolíneas Argentinas flight from Miami
  2. 2Peronist reshuffle: Solá, Moyano split from Massa to form CFK-friendly bloc
  3. 3Uruguayan lawmakers pass law granting rights to trans people
  4. 4Julian Assange sues Ecuador for violation of 'fundamental rights'
  5. 5Experts raise forecasts as inflation soars
  6. 6Argentine déjà vu
  7. 7'Not worthy of rape' deputy says she fears for Brazil under a president Bolsonaro
  8. 8Glyphosate use on the rise in Argentina, despite controversy
  9. 9The Saudis let the mask slip
  10. 10Building solid structures to engage our readers