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By: Aldo Leporati
Argentina’s consumer prices rose 1.2% in December, according to the government’s INDEC statistics agency. The figure represents a 0.4% drop compared to November’s rate of 1.6% and is half of October’s rate, which clocked in at 2.4%.
The central cause behind this month’s rate is thought to be the increase in the prices associated with leisure activities — possibly business owners taking advantage of people’s willingness to spend more while on vacation. That’s unheard of — and home supplies, both of which went up by 2%.
However, an average taken from the numbers from private firms indicates that 2016’s annual inflation hovered around 40%, the largest number in 14 years. The Government’s goal for 2017 — when it comes to inflation — is keeping inflation between 12 and 17%. Private firms, however, already estimate the number will break the 20 point barrier.
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