Argentina’s inflation up 4% in July, 263.4% YoY
The Consumer Price Index saw a monthly inflation rate of 4.0 per cent in July 2024, with a year-to-date inflation of 87.0 per cent, the official statistics agency INDEC announced late Wednesday.
On an annual basis, the index increased by a staggering 263.4 per cent.
The division that saw the largest increase for the month was restaurants and hotels (6.5 per cent) and alcoholic beverages and tobacco (6.1 per cent) due to the increase in cigarette prices. this was followed by housing, water, electricity, gas and other fuels (6.0 per cent) due to increases in rent and related expenses, and water supply.
Argentina has been grappling with persistently high inflation for decades. The country has experienced some of the highest inflation rates globally, significantly eroding purchasing power and economic stability.
Attribution: The National Institute of Statistics and Censuses (INDEC)
Subediting: Y.Yasser
