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Financial News: ARGENTINA: Annual Inflation Rises To 22.8% In August,

ARGENTINA: Annual Inflation Rises To 22.8% In August, Says Central Bank

09/12/2017 - 20:06:00 (RTTNews)

(RTTNews) - The annual inflation rate in Argentina increased to 22.8% in August, from 21.8% a month before, remaining above the 12% to 17% target range for this year, according to the country's central bank.

The annual inflation reading combine data from the new Argentinean inflation index, which has national coverage, and the previous benchmark index, which monitored prices only in Buenos Aires metropolitan area.

The new consumer price index showed that monthly inflation in Argentina was at 1.4% in August, from 1.7% in July. The former benchmark index revealed that in Buenos Aires metropolitan area monthly inflation fell from 1.7% to 1.5%.

Both readings, however, were below the 1.6% market expectation, according to a recent central bank survey.

Argentina's monthly inflation was primarily influenced by rising prices of health, housing, water, electricity, and fuels. Year-to-date, inflation in Argentina stands at 15.4%.

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