It’s Official: Annual Inflation in Argentina Reached 24.8% in 2017

Consumer inflation in the last month of 2017 in Argentina clocked in at 3.1 percent, taking the cumulative inflation for 2017 to a total 24.8 percent.

The figures, released by the INDEC statistics bureau today showed that the final inflation figures for the year were much higher than the official target of 17 percent.

A significant chunk of the December inflation rate was down to the average 17 percent increase in utilities such as electricity and water compared to November 2017. In comparison to December 2016, utilities cost 55 percent more in December 2017. Over the same period, food increased by 20 percent, clothing 16 percent and transport 20 percent.

The monthly inflation rate jumped in December, given that the month represented the…

Original published: 2018-01-11 22:23:20 Read the full Buenos Aires News here

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