Prices in Buenos Aires City rose 2.1 percent in June

Monthly inflation in Buenos Aires picked up in June to 2.1 percent, according to data released by City Hall official statistics bureau.

The figure is a half-point on the preceding month, when consumer prices rose 1.6 percent. April had seen hikes of 2.3 percent. 

Prices so far have increased by 15.3 percent in the first half of the year – a sharp drop from previous years. Over the past 12 months, prices have risen by 44.5 percent, says City Hall.

The sharpest increases in June were seen in financial services (up 3.5 percent), housing (3.1 percent) and transport (3.1 percent). 

Food prices rose by 1.6 percent, with notable hikes for bread and baked goods (2.4 percent), meats (1.8 percent) and dairy products (1.1 percent). These were partially offset by a 1.4 percent drop in the price of vegetables, tubers and legumes.

The hike in housing costs was largely driven by adjustments to public utility rates and rental contracts. Transport inflation was mainly the result of fare increases for urban buses, along with higher fuel prices.

Health costs increased by 2.6 percent, following adjustments to prepaid healthcare plans. Alcoholic beverages and tobacco rose by 2.9 percent, matching the increase in recreation and cultural services. 

Clothing prices, by contrast, remained nearly flat, posting just a 0.3 percent uptick.

Inflation for goods was 1.4 percent, while services increased by 2.6 percent. Seasonal prices climbed 1.2 percent and regulated prices rose by 2.4 percent, according to City Hall.

Last month’s rise in prices in the City had been widely anticipated by private consultancy firms and is a potential precursor for the nationwide inflation figure, due to be released by the INDEC national statistics bureau on Monday, July 14.

Inflation dropped to 1.5 percent in May nationwide, dropping below a monthly two percent for the first time since July 2020.

– TIMES/NA