Official data reveals that as of May, Argentinas annual inflation rate reached 114%.The countrys National Institute of Statistics and Censuses (Indec), comparable to Brazils IBGE, released the figure on Wednesday, June 14.Indec updates a consumer price index every month to track Argentinas inflation.
For the first five months of the year, the cost of living has increased by 42%.In May, the monthly variation was 7.8%.Argentinas annual inflation rate hits 114%.
(Photo Internet reproduction)The highest rise was noted in the segment comprising housing, water, electricity, gas, and other fuels (11.9%), items considered basic.
The lowest increase was recorded in education at 4.9%.In the same month in 2022, the monthly result was 5.1%, and the cumulative total for the years first five months was 29.3%.For the annual index, the figure was 60.7% indicating that the year-on-year variation for 12 months almost doubled.A year ago, healthcare was the main driver, with a monthly increase of 6.2%.
In 2023, this sector also had a worse result: 9.3%.Finally, the segment comprising housing, water, electricity, gas, and other fuels recorded one of the lowest inflation variations for May 2022 at 3.6%.