Argentina: Inflation picks up in December from November
Latest reading: Consumer prices were up 31.5% in annual terms in December, following a 31.4% increase in the previous month.
Relative to the prior month’s data, there were higher price pressures for transportation (+32.0% in annual terms vs +29.7% in November) and food and non-alcoholic beverages (+32.2% vs +31.1% in November). In contrast, there were reduced price pressures for restaurants and hotels (+42.2% vs +44.2% in November) and housing and utilities (+41.6% vs +44.2% in November).
Lastly, consumer prices rose 2.85% in December on a month-on-month basis, following a 2.47% rise in the prior month and above market expectations. This marked the fourth consecutive monthly acceleration.