Argentina records 98.8 percent inflation in January

Argentina records 98.8 percent inflation in January

Europe News Desk!!! The National Institute of Statistics and Census (INDEC) reported that after a monthly price increase of 6 percent at the beginning of the year, Argentina recorded an annual inflation rate of 98.8 percent in January. The sectors with the largest price variation in January were entertainment and culture (9 percent), communications (8 percent), housing, water, gas, electricity and other fuels (8 percent), Xinhua news agency reported, citing INDEC data. ), food (6.8 percent), goods and services (6.8 percent), restaurants and hotels (6.2 percent). Besides, transportation (5.9 percent), household appliances and maintenance (5.4 percent), and health (4.9 percent) also registered monthly growth. Over the past 12 months, items with the highest growth included clothing and footwear (120.6 percent), restaurants and hotels (109.9 percent), miscellaneous goods and services (102.6 percent) and home appliances and maintenance (101.2 percent).

Meanwhile, according to the INDEC, food grew by 98.4 percent, health by 92.3 percent, transportation by 92 percent and housing, water, gas, electricity and other fuels by 91.5 percent. In view of Argentina’s high inflation, the government has implemented an extensive price control program to guarantee modest increases in the price of basic goods and services. Private analysts forecast inflation in the country to reach 97.6 percent in 2023, according to a market study released in early February by the Central Bank of Argentina.


World News Desk!!


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