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ARGENTINA: Monthly Inflation Rises More Than Expected In July

(Agencia CMA Latam) - Argentina's consumer price index increased by 1.7% in July on a monthly comparison, accelerating from the previous month, when prices rose by 1.2%, said the country's statistics office.

July's reading came above market expectations (+1.5%). Argentina's inflation was primarily influenced by a rise in recreation and culture, health, alcohol and tobacco, transportation and restaurants and hotels prices.

Year-to-date, inflation in Argentina stands at 13.8%, within the country's target range of 12% to 17% for this year.

This was the second time that the national statistics office released the consumer price index under the new methodology, which has broader geographical coverage compared to the previous version.

There was no data regarding the annual inflation rate in July, but that data should be disclosed by the country's central bank at its next monetary policy announcement, on August 22.

by Agencia CMA Latam

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