Argentina’s Inflation Trends: Understanding the Latest Numbers
Argentina’s inflation rate has seen a notable decrease, with a recorded rate of 117.8% in the past year. This figure represents a significant drop of almost 94 points compared to the 211.4% rate in 2023, as reported by the official statistics institute Indec.
Monthly Price Increase: A Closer Look
December’s price increase stood at 2.7% compared to the previous month. This marks the third consecutive month with a rate below 3%, despite a slight rebound attributed to seasonal factors.
Government Perspective: A Sign of Progress
The Minister of Economy, Luis Caputo, acknowledged the “continuity of the disinflation process” in a statement following the release of the index. He highlighted that this positive trend occurs during a period with positive seasonality, where both economic activity and real income of the population are experiencing a strong recovery.
Detailed Breakdown: Categories Driving the Numbers
The categories primarily responsible for the increase were housing, water, electricity, gas, and other fuels, with a 5.3% rise, and communication, with a 5% increase. On the other hand, the items with the lowest growth were home equipment and maintenance, with 0.9%, and clothing and footwear, with 1.6%.