Argentina: Annual inflation reaches eleven-month high amid largest month-on-month increase in nearly six years

According to official figures, consumer prices for the Greater Buenos Aires area added 1.4% in December over the previous month. December’s increase was a step up from the 0.9% rise recorded in November and marked the highest monthly increase since March 2005. Higher prices for recreation and healthcare were the main drivers behind the increase in prices. Annual headline inflation jumped from 10.5% in November to 11.0% in December, which was the highest level in eleven months. LatinFocus Consensus Forecast panelists see official inflation at 13.1% by the end of 2014, which is up 0.6 percentage points from last month’s estimate. Panelists estimate that official inflation will rise to 13.8% by the end of 2015.

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