The Strategist

Inflation in Argentina exceeds 50 per cent in six months

07/14/2023 - 03:34

According to a study from the republic's statistics and census institute, the consumer price index overall increased 6% in June 2023.

Diego Torres Silvestre
Diego Torres Silvestre
Argentina's inflation rate has surpassed 50% since the year's beginning, and prices increased by 6% in June. This is in line with the information that the Institute of Statistics and Census of the Republic released on Thursday.

"In June 2023, the consumer price index increased by 6% overall; cumulative growth [from the year's commencement] was 50.7%. The growth was 115.6% greater than in the same month previous year," according to the data.

The report's authors state that June had the largest increase in price growth (by 10.5%) for communication services. Health care services, which increased by 8.6%, come next. The cost of food items increased by 4.1%.

The rate of inflation in Argentina has decreased in comparison to earlier months. It was 7.7% in March, 8.4% in April, and 7.8% in May.

For many years, Argentina has been among the nations with the highest inflation rates. The greatest level of annual inflation since 1991 was recorded in February at 102.5%.