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The Consumer Price Index gauges the price changes in a basket of goods and services in a defined time period. During August 2024, the product category with the highest Consumer Price Index (CPI) increase compared with the previous month in Argentina was household, water, electricity, gas and other fuels with a percent increase. Followed by education with a *** percent increase. Nonetheless, when compared with the previous year, communications registered the highest price increase with over *** percent year-over-year.Â
Despite Argentina’s efforts to reduce inflation, the country ranks in the top three Latin American countries with the highest rate, only with a lower figure than Venezuela and Suriname. The situation is not a recent one, the inflation rate has been reaching double digits every year since 2012, reaching over ** percent in 2019, making the constant rising prices nothing out of the ordinary for Argentinian families. The expectation of inflation is one of the main causes of inflation with low central bank interest-rates and increases in the money supply, which helps to explain the chronic inflation of the country. Both firms and people expect inflation in their lives, workers demand increasing wages to coop with inflation, while companies increase prices of goods and services because they expect production costs to grow, creating a vicious circle in the economy.
Inflation negatively affects consumers and savers alike. For the latter, 100 Argentinian pesos in 2020 was worth just under ** pesos in 2021, after adjusting for the percent inflation rate. For the consumers, rising prices of the basic products increase the vulnerability of the population. In January 2023, the value of the basic food basket, which establishes the extreme poverty line, stood at * pesos, more than ten times higher than during the same month in 2018. Between the first half of 2018 and the first half of 2022, the share of households under the poverty line increased by over * percentage points reaching **** percent.
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* For commercial use only
Basic Account
Starter Account
The statistic on this page is a Premium Statistic and is included in this account.
Professional Account
1 All prices do not include sales tax. The account requires an annual contract and will renew after one year to the regular list price.
