Argentina

Consumer Prices August 2002

The Numbers in Detail

The Instituto Nacional de Estadísticas y Censos reports that:

The the general level of the Consumer Price Index (CPI) for the Federal Capital (Greater Buenos Aires) registered a 2.3% variation in August in relation to the previous month and a 37.8% variation compared to December 2001.  In relation to the same month last year, the variation reached 36.5%.

Goods prices, which represent 53% of the basket, experienced a 2.9% variation, while service prices, which account for 47%, rose 1.4% over the previous month.  When compared with December 2001 the variations were 63.8% for goods and 9.8% for services.
 

LatinFocus Comment

The August figure was the lowest monthly increase observed since January and came in below market expectations.  The August variation raised the annual inflation rate from 32.9% in July to 36.5%.  Uncertainty over sustainability of the recent currency stability, public sector wages and public service tariffs continues to cloud prospects for any moderation in the current pace of consumer price increases.

Forecasts: This indicator is covered in the LatinFocus Consensus Forecast.  For 5-year projections, including quarterly forecasts for the next two years, please click here