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Argentina records highest inflation in the year since 1991

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Supermercado em Buenos Aires: preços ao consumidor acumularam alta de 29,3% de janeiro a maio deste ano
Supermarket in Buenos Aires: consumer prices have increased by

,3% from January to May of this year| Photo: EFE/Juan Ignacio Roncoroni

Consumer prices in Argentina have accumulated a sharp rise of 48,7% in May compared to the same month in , informed this Tuesday (06) the National Institute of Statistics and Censuses (Indec).

Interannual inflation exceeded the increase of 41% registered in April, which had represented the highest accumulated in months since January. Furthermore, according to an analysis by the Austral University and the consultancy Romano Group reproduced by the Clarín newspaper, the 19, 3% accumulated from January to May is the highest level for the first five months of the year since 1280.

The price variation in May compared to April reached 5.1%, showing a deceleration in relation to the very high monthly rates recorded in the month of April (6%) and in March (6.7%).

Last month, goods rose 5.3% in relation to April, while services rose 4.3%. Among the increases registered in May, the highlights were those of the health sectors (6.2%), transportation (6.1%) and food (4.4%).

Consumer prices had accumulated an increase last year in 50,9%, an acceleration compared to 21, 1% verified in 2020.

For this year, the Argentine government had initially projected an annual inflation rate of 20%, but the agreement to refinance a debt of around US$ 36 billion with the International Monetary Fund (IMF) signed in March by the government of Alberto Fernández included a projection of inflation tion of 24% The 38%.

In addition, the most recent private forecasts collected monthly by the Central Bank indicate that inflation will be 59, 6% this year and from 58% in 2022.

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