The Limited Times

Now you can see non-English news...

Inflation in February was 6.6% and reached 102.5% in one year

2023-03-14T19:12:25.112Z


It was reported by the National Institute of Statistics and Censuses (INDEC). Inflation for February 2023 , the second measurement of the year, was 6.6%, according to the Consumer Price Index (CPI) reported on Tuesday by the National Institute of Statistics and Censuses (INDEC). In this way, the interannual rate reached 102.5%. In the previous one, after the 6% inflation in January, the data was known that if inflation in February exceeded 5.3%, the interannual index, that


Inflation

for February 2023

, the second measurement of the year, was 6.6%, according to the Consumer Price Index (CPI) reported on Tuesday by the National Institute of Statistics and Censuses (INDEC).

In this way, the interannual rate reached 102.5%.

In the previous one, after the 6% inflation in January, the data was known that if inflation in February exceeded 5.3%, the interannual index, that is, that of the last twelve months, would reach 100%, a number that Economy, with Sergio Massa at the helm, wanted to escape.

In 2022, inflation had been 94.8%, the highest since 1991, and although the minister's expectations were to maintain a CPI below 4% for the first months of the year, in January that illusion vanished.

"We don't like the number," they said last month from the economic portfolio.

Meanwhile, the Vice Minister of Economy, Gabriel Rubinstein, later admitted through Twitter a change in expectations: now they expect inflation "to be close to 3%" by the end of the year and not by April, as Massa had said.

"We continue working from the macro and from the micro, so that inflation drops significantly, and we hope that, towards the end of the year, the CPI will be close to 3%, with inflation for the year around 60%."

The consultants surveyed by the Central Bank, on the other hand,

project an inflation of 97.6% for 2023

.

Prior to this new measurement published by INDEC, the private consultants had anticipated that inflation in February would also be around 6%, as it happened in January.

This forecast was based, according to a survey by the Center for Argentine Political Economy (CEPA), on a rise in meat, which increased 29% last month.

These unofficial measurements oscillated between 5.7% and 6.4% for February, thus reaching year-on-year inflation above 100% for the first time since 1991.


Until now, the highest CPI of the entire management of Alberto Fernández was the indicator for the month of July when it reached 7.4%, being the highest mark since April 2002, when it reached 10.4%.

News in development.

look also

The confession of a former minister of Alberto Fernández: "Sergio Massa took office one day before we left by helicopter"

At the request of the IMF, the Government agreed to restrict intervention in parallel dollars and will put filters on the moratorium

Source: clarin

All business articles on 2023-03-14

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.