The National Institute of Statistics and Censuses of the Argentine Republic (Indec) revealed this Tuesday that the Consumer Price Index (CPI) increased 2.5% in August With respect to the month of July, and for the first time, the monthly increase pierced the three-point floor. Likewise, the year-on-year increase was 51.4% and the inflation accumulated so far this year reached the 32,3 percent.
According to the report, the Health and Education division (4.2%) was the one with the highest increase in the period, mainly driven by the rise in Prepaid expenses and Medicinal products, devices and health equipment. Behind these items were Recreation and Culture (3.7%); Clothing and Footwear (3.4%); and Miscellaneous Goods and Services (3.2%).
Meanwhile, the increase in the Food and non-alcoholic beverages division (1.5%) was the one with the highest incidence in most regions. The increase was mainly explained by the increase in Milk, dairy products and eggs; Bread and cereals; Coffee, tea, herb and cocoa; Sugar, sweets, chocolate, sweets, etc .; and Oils, fats and butter. These increases were partially offset by the decrease in Vegetables, tubers and legumes in some regions.
The division Communication (-0.6%) presented a fall in August, and the lowest increase in the month was in Housing, water, electricity, gas and other fuels (1.1%) which, in some regions, also registered falls. In the case of the latter group, the drops were mainly associated with the reduction of the gas tariff in some localities of the
country as a result of the expansion of the Cold Zone Regime.
Likewise, the decrease in Vegetables, tubers and legumes had an impact on the Seasonal category (0.6%), the one with the lowest increase in August, followed by Regulated (1.1%), in which the increase in Prepaid expenses was offset due to the decrease in the gas rate. “The Núcleo IPC category showed an increase of 3.1% in the period,” they explained from the agency.
Inflation by Region
Within the regions, the Indec highlighted that “Patagonia” is the region that registered the greatest increase with a monthly increase of 3.4% and is followed by the “Northeast” region with a jump of 2.7%, while the Greater Buenos Aires registered a rise of 2.6%. In the “Northwest” the CPI climbed 2.4%, in the “Pampeana” area 2.3%; and in «Cuyo» it was 1.8%.