Key facts
- Argentina's monthly inflation rate was 2.1% in July.
- This is a slight increase from June's 1.9% rate.
- The 12-month inflation rate climbed to 33.8% in July.
- Recreation and culture experienced the largest price increases.
- Analysts view Argentina's disinflation trend as gradual.
Argentina's monthly inflation rate stood at 2.1% in July, a slight increase from the 1.9% recorded in June, according to data from the national statistics agency INDEC. The 12-month inflation figure also saw a marginal acceleration, rising to 33.8% from 33.5% in the previous month. This uptick was slightly higher than analysts' expectations of 2%.
The largest price increases in July were observed in recreation and culture, primarily driven by more expensive holiday packages during Argentina's winter break. Restaurants and hotels also saw price hikes, while clothing and footwear prices experienced a slight decrease.
A Reuters poll indicated that analysts consider the disinflationary trend in Argentina to be gradual. The country's central bank projects year-end inflation at 29.8% and economic growth of 2.7%.