The Consumer Price Index (CPI) increased 7% during August compared to July, which although it meant a slowdown from the previous monthaccumulated a rise of 56.4% in the first eight months of the year, reported the National Institute of Statistics and Censuses (Indec).
In the year-on-year comparison, retail inflation registered an increase of 78.5%, added the agency.
The highest incidence in all regions was contributed by the increase in Food and non-alcoholic beverageswith 7.1%.
Within the division, the increase in Vegetables, tubers and legumes stood out; Sugar, sweets, chocolate, sweets, etc.; Fruits; Oils, fats and lard; and Milk, milk products and eggs.
The items with the highest increase in the past month were Clothing and footwear, with 9.9%; Various goods and services, 8.7%; and Home equipment and maintenance, 8.4%, the latter division being affected by the salary increase of workers in private homes.
During August, the rise in the share of prepaid medicine was also highlighted, which affected the Health division so that it ended with an increase of 5.7%.
#DatoINDEC
Consumer prices (#CPI) rose 7% in August 2022 compared to July and 78.5% year-on-year. They accumulated a rise of 56.4% in the first eight months of the year https://t.co/eIQhRyGD6g pic.twitter.com/o7X3TGc9Xu— INDEC Argentina (@INDECArgentina) September 14, 2022
There was also a rise in rates for water and electricity services in some regions of the country, which had an impact on the Housing, water, electricity, gas and other fuels category, with 5.5%.
The price hike in mobile phone services in most regionswhich was reflected in the 4.1% increase in the Communication category.
In turn, within Transportation, with an increase of 6.8%, the increase in public transport fares -higher in the Federal Capital and Greater Buenos Aires (GBA) region- and the rise in fuels on the closing of the period.
At the category level, Seasonal products and services led the rise –explained, in part, by the aforementioned rises in Clothing and footwear, in Fruits and in Vegetables, tubers and legumes–, with 8.7%, followed by the Core CPI, with 6.8%, and Regulated , 6.3%.
measure otherwise, Goods increased 7.4% and Services 5.8%reported the Indec.
The Northeast and Northwest regions were the ones with the highest growth in the Price Index with 7.6%, followed by the CBA, with 7%; the Pampas area with 6.9%; and further behind were Cuyo with 6.5% and Patagonia with 6.4%.
The 9% rise in the clothing category reached a “peak” of 11.7% in the Northwest region of the country, and a minimum of 7.6% in Patagonia.
So far this year, the IPC increased 56.4%, with increases of 58.8% in Food and non-alcoholic beverages, 71.9% in Clothing and Footwear, 55.3% in Health; 55.6% in Education, 63.9% in Restaurants and hotels, among others.
Measured in another way, Goods increased by 58.9% and services, 50%.
In that 56.4% of accumulated inflation between January and August, 76.4% was due to the rise in seasonal products and services, 55.2% in Core Inflation, and 48.1% in Regulated Inflation.
The main consultants in the financial market had estimated that inflation in August would reach 6.6%, below the 7.4% in July, according to the Survey of Market Expectations (REM) carried out by the Central Bank at the end of the month past.
