The National Institute of Statistics and Censuses (INDEC) will release the Consumer Price Index (CPI) for August next Wednesday. According to the forecasts of private consultants, it will be above 6%, marking a drop from the record set in July when inflation climbed to 7.4%.
The rise in food prices, the increase in rents plus the increase in fuel and other services, drive the rise in the price index for the eighth month of the year.
From the C&T consultancy they indicated that food and beverages grew 7.5%, particularly highlighting the rise in fruits and vegetables. Regarding the annual data, they pointed out that “the twelve-month variation climbed to 75.9%, a rate comparable to that of January 1992”. EcoGo, for its part, also forecasts inflation of 6.7% per month. From the consulting firm LCG, meanwhile, they estimate that the rise in prices in August will reach 6.5%.
While Analytica projected a rise in the IPC of 6.4% and from Focus Market, they calculate it at 6.2%. The Fundación Libertad y Progreso, meanwhile, reflected an advance of 6% per month, “registering the third largest increase of the entire Alberto Fernández Administration” and specified: “In this way, in the first 8 months of 2022, accumulated inflation reaches 55%. This is the largest cumulative inflation for the first eight months of the year since 1991.”
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