Buenos Aires Times

economy ECONOMIC INDICATORS

INDEC: Inflation in May reached 2.1%

Inflation in first five months of year totals 11.9%, national statistics bureau reveals, as the peso rose to a new record against the dollar.

Today 07:57 PM
Workers march toward the Plaza de Mayo square earlier today, during a 24-hour strike called by state workers, truck drivers and teachers to reject the economic policies of Mauricio Macri's government.
Workers march toward the Plaza de Mayo square earlier today, during a 24-hour strike called by state workers, truck drivers and teachers to reject the economic policies of Mauricio Macri's government. Foto:AFP-EITAN ABRAMOVICH

More Economy News

Inflation reached 2.1 percent in May, the INDEC national statistics bureau revealed today, as the peso rose to a new record against the dollar.

The figure means that inflation in the first five months of 2018 so far has totalled 11.9 percent. The cumulative total for the last 12 months now stands at 26.3 percent.

The data was released by INDEC during another day in which the peso’s rate against the dollar set another record, closing at 28.43 pesos. The previous day, it had closed at 26.69 pesos. 

According to the bureau, core inflation – which excludes regulated and seasonal prices – hit 2.7 percent in May, the highest value so far in 2018. The consumer price index witnessed the largest rises in communication (3.9 percent) and food and non-alcoholic beverages (3.3 percent).

President Mauricio Macri and his government recently agreed a deal with the International Monetary Fund (IMF) for a stand-by loan of US$50 billion over a three-year period.

The government’s original target for inflation was modified back in December to 15 percent, but private estimates have outpaced those expectations for months. The deal with the IMF laid down a target of 17 percent in 2019, though did not set one for this year.

- TIMES

Poll

Op-Ed

Top Stories

  1. 1Marcelo Bielsa signs deal with Leeds United to become head coachMarcelo Bielsa signs deal with Leeds United to become head coach
  2. 2The newspaper that reported the horror and glory of the 1978 World Cup
  3. 3Argentina's Lower House approves elective abortion bill; now goes to Senate
  4. 4In photos: Pro-choice campaigners celebrate result of abortion vote
  5. 5'Forced' sterilisation of 'drug-addicted' Brazilian woman sparks uproar
  6. 6Dutch royals arrive in Argentina for funeral of Queen Máxima's baby sister
  7. 7Marcelo Bielsa finalising contract worth €4M-year with Leeds United
  8. 8Wage stand-off: BA province teachers to lead 2-day strike
  9. 98M in Argentina: Women prepare for massive rights strike
  10. 10World Cup set to welcome record number of Argentine coaches