After his participation in the Council of the Americas, where he referred to the economic direction of the country, Milei He expressed himself on his social networks about a new decline in the Consumer Price Index (CPI)one of the main battles that his team is carrying out Government.
Javier Milei on the latest inflation figure: “It is the lowest since January 2022”
Although in the corridors of the Pink House and in the Treasury Palace The indicator was estimated to be less than 4%, the president was satisfied with the figure revealed by the Institute of Statistics and Census (INDEC).
“Come on Toto, dammit. The inflation (CPI) for the month of July was 4%, the lowest since January 2022… LONG LIVE FREEDOM, DAMN IT”wrote the president on his X and Instagram accounts, along with a file photo of the two hugging.
The minister of Economy He responded to the president with a message of thanks for his words and stated that he will continue with the task until “eradicating” inflation. “Thank you, President. We will not stop until we eradicate the worst of taxes!” he emphasized.
Beyond the slight decrease compared to last month (4.6% in June), The new figure is the lowest in the last 30 months since January 2022 when it stood at 3.9%. Since then, the monthly survey has been positioned above 4%.
The Government highlighted the new CPI figure and reaffirmed that we are “in a process of disinflation”
From the portfolio of Economy They reported that in the year-on-year comparison, the price increase reached 263.4%, although they assured that a period of “disinflation”. “The analysis of the moving averages of the variations of the National CPI in recent months It is consistent with a deepening of the disinflation process“, they reported.
“The three-month moving average of the change in the National CPI was at the lowest level since February 2022and was more than three points lower than the six-month moving average. This last indicator is already the lowest since July of last year,” the Ministry stressed. In addition, they highlighted that the baskets that serve to measure poverty and indigence moved below the CPI and that the wage index rose above.
The division of The biggest increase in the month was Restaurants and hotels (6.5%) and Alcoholic beverages and tobacco (6.1%) due to the increase in cigarettes. This was followed by Housing, water, electricity and other fuels (6.0%) due to increases in Housing rent and related expenses and Water supply. The division with the greatest impact in all regions – except in the Northeast – was Food and non-alcoholic beverages (3.2%), where the increases in Fruits and Vegetables, tubers and legumes stood out.
Source: Ambito
