Official data reveals that as of May, Argentina’s annual inflation rate reached 114%.
The country’s National Institute of Statistics and Censuses (Indec), comparable to Brazil’s IBGE, released the figure on Wednesday, June 14.
Indec updates a consumer price index every month to track Argentina’s inflation. For the first five months of the year, the cost of living has increased by 42%.
In May, the monthly variation was 7.8%.
The highest rise was noted in the segment comprising housing, water, electricity, gas, and other fuels (11.9%), items considered basic. The lowest increase was recorded in education at 4.9%.
In the same month in 2022, the monthly result was 5.1%, and the cumulative total for the year’s first five months was 29.3%.
For the annual index, the figure was 60.7% — indicating that the year-on-year variation for 12 months almost doubled.
A year ago, healthcare was the main driver, with a monthly increase of 6.2%. In 2023, this sector also had a worse result: 9.3%.
Finally, the segment comprising housing, water, electricity, gas, and other fuels recorded one of the lowest inflation variations for May 2022 at 3.6%.
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