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In July, Argentina Inflation Rises to 1.9% in the Month, with Leisure and Transport Driving Highs, While Clothing and Footwear Decline.
Inflation in Argentina rose 1.9% in July compared to June, according to the National Institute of Statistics and Census (Indec). Most importantly, the result represents an acceleration compared to the 1.6% increase recorded in the previous month.
In year-on-year terms, the Consumer Price Index (CPI) reached 36.6%. This percentage shows a deceleration compared to the 39.4% observed in June. In the accumulated figure for 2024 up to July, the country’s inflation was 17.3%.
Sectors with Highest Variation
The group “Recreation and Culture” led the increases for the month, with an advance of 4.8%. Following that, came “Transport,” which recorded an increase of 2.8%.
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These sectors pulled the index up and helped explain the monthly acceleration.
On the other hand, the smallest variations occurred in “Alcoholic Beverages and Tobacco,” which rose 0.6%, and in “Clothing and Footwear,” which saw a decline of 0.9%. Therefore, not all groups followed the upward movement during the period.
Context of the Numbers
The result for July reinforces that Argentine inflation remains under pressure, despite the deceleration in annual variation. Additionally, the differences between sectors show an unequal impact on prices, depending on the type of consumption.
The significant increase in “Recreation and Culture” may be related to the holiday season, when demand for services and leisure activities typically rises.
Meanwhile, the retraction in clothing and footwear suggests a distinct price behavior, possibly influenced by promotions and collection changes.
Therefore, Indec’s data indicates that, even with signs of relief in the annual accumulated data, the Argentine economy continues to face challenges in containing rising prices.
