Buenos Aires, Argentina - May 13, 2024

The National Institute of Statistics and Censuses (INDEC) reported that April inflation was 8.8%, which marks the fourth consecutive month of decline in monthly data after the peak of 25.5% recorded in December 2023.

Thus, interannual inflation in April 2024 was 289.4% compared to the same month in 2023, the highest value since February 1991 (when it reached 582%).

Meanwhile, in the first 4 full months of Javier Milei's government, prices increased by 65%, a level almost similar to that accumulated in the first 8 months of last year (69.9%).

According to INDEC data, April inflation is mainly due to the increase in regulated services (that is, those whose rise depends on an official decision, such as rates), which increased by 18.4% compared to 9.4%. .9% of seasonal prices and 6.3% of core inflation (which groups together less volatile products and not subject to seasonal changes).

Thus, the 2 items that increased the most in April were “Housing, water, electricity, gas and other fuels”, with an increase of 35.6%; and communications, which registered an increase of 14.2%.

SHOTLIST:
1. various of the supermarkets in Argentina.