Consumer prices rose 1.9 percent in July and by more than 17 percent so far this year, the INDEC national statistics bureau reported Wednesday.
The statistics agency said that prices rose 17.3 percent in total in the first seven months of the year.
Inflation totals 36.6 percent over the last 12 months.
The category registering the largest increases in July was recreation and culture, up 4.8 percent, while clothing and footwear recorded the sharpest fall, down 0.9 percent.
Most consultancy firms and experts had expected the figure to remain below two percent, as in the two previous months, underlining the progress made by President Javier Milei’s government in stabilising price hikes.
The Central Bank’s monthly market expectations survey, or REM, had forecast July inflation of 1.8 percent.
As private estimates had anticipated, July’s currency turbulence had only a limited impact on inflation.
In June, inflation was 1.6 percent, just above May’s 1.5 percent – the lowest monthly rate of the past five years.
– TIMES/NA
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