2024-09-09 10:25:57
The National Statistics and Census Institute (Indec) will publish August inflation figures on Wednesday, September 11, which according to private analysts show a rise of 3.9%, at least a tenth lower than in July. Economy Minister Luis Caputo duly said he expected the data to be “similar to July’s close of 4%,” but he was pleased to see September’s decline actually be dragged down by a 10-point cut in state taxes. will deepen further. The aim is to get this number to 2% soon to “stop” the slow depreciation of 2% per month.
The Buenos Aires Statistics Institute provided a good backdrop for the price slowdown on Friday, reporting that retail inflation was 4.2% in August, nearly a percentage point lower than July’s 5.1%.
The city of Buenos Aires’ measure of services is more important than Indec’s measure at the national level.
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Thus, in the Buenos Aires measure, goods grew by an average of 3.1%, while services grew by 4.9%.
In the city, growth in the index was driven by increases in transport fares and public services, while growth in the “Health” and “Food and Drinks” items was below average.
Food grew by 3.1%, led by meat and its derivatives (5.3%), bread and cereals (4.1%), and milk, dairy products and eggs (3.7%).
In an inter-annual measure, prices increased by 243.1%, while the cumulative eight-month change in 2024 was 106.8%.
Meanwhile, private consultants expect national inflation to be 3.9% in August, just a tenth lower than in July, according to the Market Expectations Survey (REM), while September’s forecast was around 3.5%.
“We clean up the central bank, fiscal data, commercial debt, all of which will lead to a rapid decline in inflation, which we are committed to continuing,” assured Pablo Quirno, finance minister at the Ministry of Economy.
Quirno issued a statement at a seminar organized by the Insurers Chamber of Commerce (AVIRA), questioning this perception gap, warning that “analysts’ inflation expectations in the first six months were 50 points away from reality.”
Indec head Marco Lavagna confirmed that a new method of measuring inflation will begin in two months, with one of the most important changes being to expand the number of survey products.
“We are in the final testing phase. We have to be very careful while making changes to understand this better,” Lavanya clarified in a broadcast statement.
The CABA inflation rate in August was 4.2%, lower than in July. INDEC releases its national index on Wednesday. CAME data showed that retail sales in August fell by 10.5% year-on-year and 1.6% quarter-on-quarter.
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Argentina inflation rate
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Argentina’s Inflation Rate: A Comprehensive Update
As the National Statistics and Census Institute (Indec) prepares to release August’s inflation figures on September 11, private analysts are predicting a rise of 3.9%, a slight decrease from July’s numbers [[1]]. Economy Minister Luis Caputo expects the data to be similar to July’s close of 4%, but is optimistic about September’s decline, which is expected to be driven by a 10-point cut in state taxes. The goal is to reduce inflation to 2% soon, thus stopping the slow depreciation of 2% per month.
According to the Buenos Aires Statistics Institute, retail inflation in August was 4.2%, nearly a percentage point lower than July’s 5.1% [[1]]. The city’s measure of services is considered more important than Indec’s national level measure. In the Buenos Aires measure, goods grew by an average of 3.1%, while services grew by 4.9%. The growth in the index was driven by increases in transport fares and public services, while growth in the “Health” and “Food and Drinks” items was below average.
Food prices grew by 3.1%, led by meat and its derivatives (5.3%), bread and cereals (4.1%), and milk, dairy products, and eggs (3.7%) [[1]]. In an inter-annual measure, prices increased by 243.1%, while the cumulative eight-month change in 2024 was 106.8%.
Private consultants expect national inflation to be 3.9% in August, just a tenth lower than in July, according to the Market Expectations Survey (REM), while September’s forecast was around 3.5% [[1]]. Meanwhile, Argentina’s inflation rate is expected to slow down, with analysts cutting the 2024 inflation forecast to nearly 123% [[3]].
Finance Minister Pablo Quirno is committed to continuing the decline in inflation, citing the cleanup of the central bank, fiscal data, and commercial debt as factors that will contribute to this goal [[1]]. Quirno also highlighted the perception gap between analysts’ inflation expectations in the first six months of the year and reality.
Indec head Marco Lavagna confirmed that a new method of calculating inflation is being implemented, which is expected to provide more accurate data [[1]]. This comes as welcome news, as Argentina’s inflation rate has been a pressing concern for the country’s economy.
while Argentina’s inflation rate remains high, there are signs of a slow decline. Private analysts and government officials are optimistic about the implementation of measures to reduce inflation, and the new method of calculating inflation is expected to provide more accurate data. As the country navigates this challenging economic environment, it is essential to stay informed about the latest developments in Argentina’s inflation rate.
Argentina inflation April 2024
Argentina’s Inflation Rate: A Comprehensive Update
As the National Statistics and Census Institute (Indec) prepares to release August’s inflation figures on September 11, private analysts are predicting a rise of 3.9%, a slight decrease from July’s numbers [[1]]. Economy Minister Luis Caputo expects the data to be similar to July’s close of 4%, but is optimistic about September’s decline, which is expected to be driven by a 10-point cut in state taxes. The goal is to reduce inflation to 2% soon, thus stopping the slow depreciation of 2% per month.
According to the Buenos Aires Statistics Institute, retail inflation in August was 4.2%, nearly a percentage point lower than July’s 5.1% [[1]]. The city’s measure of services is considered more important than Indec’s national level measure. In the Buenos Aires measure, goods grew by an average of 3.1%, while services grew by 4.9%. The growth in the index was driven by increases in transport fares and public services, while growth in the “Health” and “Food and Drinks” items was below average.
Food prices grew by 3.1%, led by meat and its derivatives (5.3%), bread and cereals (4.1%), and milk, dairy products, and eggs (3.7%) [[1]]. In an inter-annual measure, prices increased by 243.1%, while the cumulative eight-month change in 2024 was 106.8%.
Private consultants expect national inflation to be 3.9% in August, just a tenth lower than in July, according to the Market Expectations Survey (REM), while September’s forecast was around 3.5% [[1]]. Meanwhile, Argentina’s inflation rate is expected to
