The consumer price index registered an increase of 4.7% in February, the National Institute of Statistics and Censuses (Indec) reported on Tuesday.
In this way, retail inflation accumulated a rise of 8.8% in the first two months of the year and 52.8% in the last twelve months.
#DatoINDEC
Consumer prices (#CPI) rose 4.7% in February 2022 compared to January and 52.3% year-on-year. They accumulated an increase of 8.8% in the 1st two-month period https://t.co/3eaUz4zdCF pic.twitter.com/tYoII3Urlm— INDEC Argentina (@INDECArgentina) March 15, 2022
The rise of 4.7% registered in February was 8 tenths higher than the 3.9% of last January.
After the INDEC released the report, from the Ministry of Economy they pointed out that the rise occurred “in the framework of the increase in prices at a global level affected by the war between Russia and Ukraine.”
“The indicator was affected by the impact of the rise in international prices of the main commodities, due to the drought and the conflict in Ukraine,” they stated in the portfolio led by Martín Guzmán.
The Food and non-alcoholic beverages division was the one with the highest increase in the month at the national level, with an increase of 7.5%, with which this item contributed more than 2 percentage points to the increase in the General Level.
Added to this was the Transportation item, with an increase of 4.9%, driven mainly by the rise in fuels; and in third place was Equipment and maintenance of the home, with 4.4%.
In this way, the so-called core inflation was the one that increased the most in February, with an advance of 4.5% against 3.3% last January, especially for food
In February, Seasonal products also continued to show increases, registering an increase of 8.4% against 9% in January, due to price increases in vegetables and fruits
Meanwhile, Regulated prices increased 3.1% monthly due to authorized increases in fuels, public transport services, electricity, education in the interior of the country and cigarettes during the last part of the month.
