INDEC reports two percent hike Saturday, August 13, 2016 Inflation slows down for second month in JulyConsumer prices decline as effects of utility tariff increases and devaluation wear offInflation in the Greater Buenos Aires area slowed for a second consecutive month in July on tighter monetary policy and as the effects of a devaluation and utility tariff increases wore off. After initially setting itself a target of slowing annual inflation to between 25 percent and 20 percent, the government now says its aim is for monthly inflation to slow to 1.5 percent by December. Higher figuresWhile also reporting a decline on the monthly inflation rate, other reports showed a larger rate in July than the one trumpeted by INDEC. The figures marked the third consecutive month in which monthly inflation decreased, as April and May had much higher numbers due to the increases in utility rates. Earlier this month, Finance Minister Alfonso Prat-Gay mentioned the results of Córdoba province’s inflation report in July as a sign that the goal of reducing inflation was finally being accomplished.

Source: Bueno Aires Herald August 13, 2016 02:26 UTC