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Inflation in August was 2.5% and accumulates 31.6% so far this year

2021-09-14T19:07:37.021Z

It was communicated by the National Institute of Statistics and Censuses, two days after the elections.



09/14/2021 16:01

  • Clarín.com

  • Economy

Updated 9/14/2021 4:01 PM

The National Institute of Statistics and Censuses (Indec) reported this Tuesday that inflation for the month of August throughout the country was

2.5%

, the lowest so far this year.

It is also the first time in 12 months that the Consumer Price Index (CPI) has dropped below the three-point barrier.

With the figure reported this Tuesday, accumulated inflation so far this year is 31.6%.

The official data was released just two days after the ruling party had a tough defeat in the legislative STEP.

This year, the highest inflation record was in March, when it touched 4.8%.

From there it fell, as the official strategy of using the dollar as an anchor became effective.

Thus, the currency is devalued at 1% per month while prices run at 3%.

In July, the CPI marked 3% inflation and had been the lowest since September 2020, accumulating an increase of 29.1% in the first seven months of the year.

Private analysts agreed that August would be the month in which that floor would be drilled, with forecasts ranging from 2.6% to 2.9%.

The Minister of Economy, Martín Guzmán, assured last Thursday that "we are anticipating that the month-on-month inflation rate will go on a decreasing path. This is what has been happening."

But private consultants warned that

the relief will be short-lived

, as the expected increases for the next few months, together with the exchange rate uncertainty, will put pressure on the index by year-end.

The list of increases authorized for September includes from the 9% hike for prepaid to private school fees, plus the increase in expenses, rents and bank commissions.

News in development

LM


Look also

In August, a Buenos Aires family needed almost $ 150 thousand to live

Staple foods increased just 1% in the City of Buenos Aires in August

Source: clarin

All business articles on 2021-09-14

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