March 7, 2014
Kicillof: ‘January's inflation was 3.7 percent’
The new price Index elaborated by the Indec statistics bureau revealed an inflation rate at 3,7 percent for January, Economy Minister Axel Kicillof said in a press conference from the Ministry of Economy, City of Buenos Aires.
This new official inflation rate, which was described by Kicillof as “a pharaonic enterprise,” differed from the one presented earlier by opposition members in the so called “Congress Index”, which estimated this month’s price rise at 4.6 percent.
In addition, January’s official measure showed increases in multiple sectors of the economy, like healthcare (5.9%), transport (5.4%), home supplies (4.3%), food and drink (3.3%), housing (2.2%), and clothing rising by 0.8%.
Kiciloff, was accompanied by Indec head Ana María Edwin, and Norberto Itzkovich, Chief Technical director of the statistics agency.
Following the release, IMF spokesman Gerry Rice said in a statement, "We take note of the launch of Argentina's new consumer price index today ... The Executive Board will review this issue again as per the calendar specified in December 2013 and in line with the procedures set forth in the Fund's legal framework."