Retail prices in Argentina climb 4% in December and accumulate a rise of 36.1% in 2020: INDEC

Argentine families fight poverty as unemployment, inflation and pandemic hit the economy

Argentine families fight poverty as unemployment, inflation and pandemic hit the economy

BUENOS AIRES, Jan 14 (Reuters) – Argentina’s retail prices rose 4% in December and closed 2020 with an increase of 36.1%, the National Institute of Statistics and Censuses (INDEC) said on Thursday.

The monthly data online as expected by analysts. A Reuters poll estimated average inflation of 3.9% for the twelfth month of last year.

Inflation in Argentina accumulated a rise of 36.1% in the 12 months of 2020, in the context of a recessive economy for the third consecutive year, although it was marked last year by the hard blow that the coronavirus pandemic represented.

“The acceleration of inflation in December responds to particular issues of the month, which by their nature is not expected to continue over the next few months,” the Ministry of Economy said in a report.

Inflationary growth in December became the highest of the year, together with the 3.8% jump recorded in October.

“The Health (5.2%) and Recreation and Culture (5.2%) divisions were the ones with the greatest increase in the period,” INDEC said, noting that “the Food and non-alcoholic beverages division (4.4%) was the one with the highest incidence at the general level

for all regions “.

The South American country is coming off a harsh inflationary course, with 53.8% in 2019 and 47.6% in 2018. Analysts predict a rebound for 2021 in the order of 49.8%, according to a recent survey by the bank central.

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(Report by Jorge Iorio ,; Written by Jorge Otaola ,; Additional report by Hernán Nessi; Edited by Walter Bianchi)

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