In July, prices in Argentina rose by 4 percent, bringing inflation to almost 90 percent since the beginning of the year. This data was published by the country’s Institute of Statistics and Population Censuses, it says TASS.
“The consumer price index increased by 4 percent in July 2024 and 87 percent since the beginning of the year. The increase was 263.4 percent compared to July of last year,” the report said.
According to speakers, the biggest price increases were seen in restaurants and hotels (+6.5%), followed by alcoholic beverages and tobacco (+6.1%) and public services (+6%); prices for these products had already increased by 14.3% in June compared to the previous month. Food prices increased by 3.2%.
Despite high inflation, the government has managed to slow the pace of price increases. The July figure was the lowest since January 2022. The decline in inflation occurred in parallel with the decline in economic activity: the industrial production index fell by 1.6% in June.
Argentina has been among the countries with the highest inflation for several years, with price increases of 211.4% in 2023, 94.8% in 2022 and 50.9% in 2021. Inflation accelerated after Javier Miley was elected president on November 19.
One of the government’s first measures was to raise the official dollar exchange rate from 366 pesos to 800 pesos per dollar.
Previously, a training aircraft was used in Argentina collapsed to the oxygen plant.
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Source: Gazeta
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