Argentina Saw 88 Percent Year-On-Year Inflation Last Month

Argentina Saw 88 Percent Year-On-Year Inflation Last Month

BUENOS AIRES, Nov 16 (NNN-TELAM) – Argentina registered 88 percent year-on-year inflation last month, with prices rising 6.3 percent for an accumulated 76.6 percent spike in prices, so far this year, the National Statistics and Census Institute (INDEC) said yesterday.

The goods and services that saw the biggest jump in price, year over year, were “clothing and footwear,” with a 121.5 percent increase; “restaurants and hotels,” with a 105.2 percent rise; and “food and non-alcoholic beverages,” with a 91.6 percent increase, the INDEC said.

“Healthcare” costs rose 78.6 percent, while “transportation” climbed 77.9 percent and “education” 76 percent.

Accumulated annual inflation (since Jan) saw the price of “clothing and footwear” rise 103.1 percent, followed by “restaurants and hotels” 84.6 percent, and “food and non-alcoholic beverages” 80 percent.

Over the past 12 months, prices of goods in Argentina rose 91.8 percent and those of services 78.4 percent.

The government said, fighting inflation is one of its main economic policy goals.

According to the Central Bank of Argentina’s latest survey of market expectations, inflation could hit three digits towards the end of the current year to reach 100 percent.– NNN-TELAM  


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