Inflation reached 2.5% in August and added 51.4% in the last year

Inflation reached 2.5% in August and 51.3% in the last year; This was reported today by the National Institute of Statistics and Censuses (Indec) when announcing today the variation of the Consumer Price Index (CPI) of last month, in line with the forecast of the private consultants that participate in the Central Bank survey .

Since January, it accumulated an increase of 32.3%, higher than the 29% set for the whole year by Minister Martín Guzmán, whose portfolio highlighted that “monthly inflation has been down for 5 consecutive months: 4.8% in March; 4.1% in April; 3.3% in May; 3.2% in June and July and 2.5% in August ”.

The body led by Marco Lavagna indicated that “The two divisions with the highest increase in the month were Education (4.2%) and Health (4.2%); andIn the latter, the increase in Prepaid Expenses and Medicinal Products, devices and health equipment had a major impact ”. Meanwhile, the increase in the Food and non-alcoholic beverages division was 1.5%, explained “mainly by the increase in Milk, dairy products and eggs; Bread and cereals; Coffee, tea, herb and cocoa; Sugar, sweets, chocolate, sweets; and Oils, fats and butter ”.

These increases were partially offset “Due to the decline in vegetables, tubers and legumes in some regions.” On the other hand, the Core CPI showed an increase of 3.1% in the period.

Economy indicated that the items that registered the greatest acceleration in their inflation rate were Health (4.2% versus 3.8% in July) due to a rise in prepaid fees; clothing (3.4% versus 1.2% in July), Recreation and Culture (3.7% versus 3.1% in July) and Education (4.2% vs. 2.5% in July).

While, “Food and Beverages significantly slowed down to 1.5% monthly (vs. 3.4% in July), thus registering the lowest inflation since August 2020. Within the division, most of the items decelerated, highlighting, in addition to the drop in Vegetables, the stability of Meats ”.

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Alcoholic beverages and tobacco also slowed (2% vs. 3.1% in July), Housing and basic services (1.1% vs. 2.9% in July) which registered a drop of -3.8% in Electricity, Gas, and Water due to the mentioned reduction of the gas tariff in some regions; and Restaurants and hotels (2.9% vs. 4.8% in July); while Communications fell -0.6% ”.

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