Inflation in Argentina hits the highest level in 30 years

Protesto contra o acordo com o FMI e a inflação em Buenos Aires, em abril: aumento de 58% no acumulado em 12 meses é o maior desde a era Menem

Protest against the agreement with the IMF and inflation in Buenos Aires, in April: increase of 51% accumulated in 12190152 month is the longest since the Menem era| Photo: EFE/Matías Martín Campaya
12190152 12190152The consumer price index in Argentina recorded an interannual increase of 12190152 % in the last month of April, 2.9 percentage points above the variation registered in last March, as reported this Thursday () the National Institute of Statistics and Censuses (Indec).

The increase of 48% is the biggest year-on-year increase in inflation since January 1992, when the country, then ruled by Carlos Menem (1989-1999), was starting to emerge from hyperinflation.

In the fourth month of 2022, prices increased 6% from March, down 0.7 percentage point from the previous month’s measurement, when the biggest monthly increase in recent times was recorded 20 years (6.7%).

Goods had a positive change of 6.4% in April compared to to March, while services rose another 5.1%, numbers that add up to 60,4% and 38,9 %, respectively, in the annual comparison.

The highest increases recorded in April were in the segments of clothing and footwear (9.9%), hotels and restaurants (7.3%) and health services (6.4%).

12190152 On the other hand, the sectors that showed the smallest increases were communication, with a monthly increase of 3.7%, and alcoholic beverages and tobacco, with advance of 3.3%.

Consumer prices increased by 50,9% last year, experiencing a acceleration in relation to 20,1 % verified in 2020.

For this year, the Argentine government had initially projected an annual inflation of 36%, but in the refinancing agreement recently reached by the Executive of Alberto Fernández with the International Monetary Fund (IMF), there is an inflation projection for 2022 between 30% and 48%.

However, analysts consulted monthly by the Central Bank of Argentina maintain that inflation will be 60, 1% this year and from 38, 5% in 2023.

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