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CPI officially 7.8% up during May in Argentina
If you do your shopping daily you know these numbers cannot be real, a supermarket customer told MercoPress.
Argentina’s National Institute of Statistics and Census (Indec) Wednesday announced that the Consumer Price Index (CPI) for the month of May of 2023 was 7.8% for a total interannual of 114.2% and a 42.2% in the first five months of the year, it was reported in Buenos Aires.
April’s inflation had been 8.4%, the highest in two decades. The Relevamiento de Expectativas del Mercado (REM) report, published by the Central Bank (BCRA) earlier this week had projected a monthly increase of 9% for May.
The items with the highest increase were housing, water, and utilities (11.9%) due to the increase in electricity and natural gas rates.
Restaurants and hotels (9.3%) and Healthcare (9%) also exceeded the monthly average, particularly in the case of medical insurance.
Meanwhile, Food and non-alcoholic beverages rose 5.8% in May. In this category, the increase in Bread and cereals, as well as in Milk, dairy products, and eggs had a significant influence.
However, most Argentines said on social media these figures had been an Indec concoction. If you do your shopping daily you know these numbers cannot be real, a supermarket customer told MercoPress.
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