Annual inflation in Argentina surpasses 115% in June with a 1.4 percentage point increase in prices

According to the National Institute of Statistics and Censuses (Indec), prices in Argentina increased by 1.4 percentage points in June compared to the previous month, bringing the annual rate to 115.6%.

Consumer prices grew by 6% in the sixth month of the year, showing a slight deceleration for the second consecutive month, following inflation rates of 8.4% in April and 7.6% in May.

In June, goods experienced a positive variation of 5.5% compared to May, while services increased by 7.2%, resulting in annual comparisons of 115.7% and 114.8%, respectively.

Notable increases in June include communications (10.5%) due to higher costs of telephone and internet services, healthcare (8.6%) due to rising medication prices and fees for private medical services, and housing costs (8.1%), mainly driven by electricity price hikes.

The division with the highest impact was food and non-alcoholic beverages, which saw a 4.1% increase from May and a 116.9% increase compared to the previous year.

In the first half of the year, inflation accumulated to a 50.7% increase.

Consumer prices had a notable acceleration last year, accumulating a 94.8% increase compared to the 50.9% recorded in 2021.

The latest private forecasts collected monthly by the Central Bank suggest that inflation will reach 142.4% this year and 105% in 2024.

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