Inflation in Buenos Aires City slowed to 1.7% in August

Inflation in Buenos Aires City slowed to 1.7 percent in August, down 1.2 percentage points from July's 2.9 percent, according to the city's Institute of Statistics and Censuses (IDECBA).

City Hall’s IPCBA consumer price index posted an annual rate of 33.3 percent in August, 0.1 points above July's 33.2 percent. 

So far, prices in the nation’s capital have risen by 21.5 percent this year.

August's slowdown resumes a broader disinflationary trend that had broken in July, following three consecutive months of decline that included a sub-two-percent reading in June – the first in nine months. 

IDECBA data shows August’s increases were led by housing, food, health and transport, which together added 1.16 percentage points to the headline figure. 

Housing, water, electricity, gas and other fuels rose 2.6 percent, contributing almost a full point, "due to adjustments in the values of building service charges and rents." 

Food and non-alcoholic beverages climbed 1.8 percent, led by fruit (12.5 percent), bread and cereals (2.3 percent) and milk, dairy products and eggs (1.6 percent).

The reading serves as an early indicator ahead of the INDEC national statistics bureau's data, due this Thursday. Private consultancies expect the national figure to also come in below two percent.

Goods rose 1.6 percent in August, trailing a 1.8-percent increase in services; year-to-date, 

– TIMES/NA