Inflation in Buenos Aires City slowed to 2.1% in February

Consumer prices in the nation’s capital rose 2.1 percent in February  – slowing more than one percentage point in a month.

Inflation in Buenos Aires City dropped to 2.1 percent from 3.1 percent in January, meaning prices have increased 5.3 percent in the first two months of the year.

Year-on-year, prices have increased 79.4 percent, according to data published by City Hall’s statistics bureau.

Inflation in the nation’s capital is often a precursor to the national figure, which is due to be released on Friday in the INDEC national statistics bureau.

The positive outcome in the City will boost hopes in President Javier Milei’s government that the national figure will be close to the 2.2 percent recorded in January.

February’s slowing of consumer prices in the capital was down to slower increases in the price of services, although significant rises were seen in food and non-alcoholic beverages (up 2.5 percent). In particular, thanks to meat and meat products (7.7 percent), milk, dairy products and eggs (1.4 percent), and bread and cereals (one percent).

Housing and utilities rose 3.1 percent, propelled by soaring rent prices, with healthcare up three percent. 

By category, goods rose 1.9 percent, while services advanced 2.1 percent.

– TIMES/NA