Inflation was 3.8% in December and 2021 closed with 50.9%

Inflation in December climbed to 3.8% and thus 2021 closed with a cumulative rise of 50.9%. Those are the official numbers that Indec has just reported.

Inflation in 2021 was the second highest since 1991 – the record was that of 2019 – and was basically driven by increases in food. Last year’s final index was very close to the 53.8% with which Mauricio Macri fired the government

The inflationary rebound occurs this time with the rates of public services and transportation frozen and a mega trap that translates into a delay in the official exchange rate.

The food

Inflation was driven by Food and Non-alcoholic Beverages, which increased 4.3% per month in December (vs. 2.1% in November), with higher increases in all items -except Fruits and Vegetables-, highlighting the increase in Meats for the second consecutive month. Regulated prices increased 1.7% monthly (vs. 1.0% in November) with increases in tobacco and ICTs at the national level, and electricity and public transport at the provincial level. It also boosted the inflation of the month Transport, which increased 4.9% monthly


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