Inflation dropped to 4.9% in November from 6.3% in October in Argentina

The national Consumer Price Index rose 4.9% in November and thus marked a sharp slowdown from the 6.3% recorded in October, reported the National Institute of Statistics and Census INDECArgentina.

Data from the National Institute of Statistics and Census (INDEC) report show that the index accumulated 85.3% in the first eleven months of 2022 and between November of this year and the same month of 2021 it accumulated an increase of 92.4%.

After the release of the Consumer Price Index, the Ministry of Economy stated that this 4.9% is the confirmation of a gradual process of inflation reduction, which although it may have some uneven months, it is expected to set a trend during the first four months of 2023.

The impact of some of the policies and price agreements that have been implemented by the Ministry is highlighted, which would have allowed the food segment to be the one with the lowest growth of the 12 items used by the Indec methodology.

The division with the highest increase in the month was housing, water, electricity, gas and other fuels (8.7%), within which the increase in electricity and gas services as a result of the segmentation of tariffs throughout the country stood out.