May inflation climbed to 4.7% but during June and July they would show a higher rate, according to a report released by Esaade University. According to the report, in the last twelve months accumulated inflation reached 278.3%.
That study house analyzed that in May, inflation “it would break the 5% monthly barrier, continuing its downward path. In April it reached single digits and was 8.8% monthly, after five consecutive months with double digits.”
However, he warned that “June and July will probably have inflation above 5%, because some rates will be announced. Then, it is expected to be in the range of 4 to 5% monthly for the remainder of the year.”
The INDEC will release the official inflation data for May next Thursday and the Minister of Economy, Luis Caputo, anticipated that the Inflation Index Consumer Prices will be below 5%.
“In March they asked me if inflation was going to reach single digits in the second half. Well, it reached single digits in April. Then they said, ‘no, but it can’t go below 7%.’ Well, it’s below 5%.” “And that is the most important thing we can give to people. It is essential to lower inflation for recovery, because that generates a normality that you have not seen in Argentina for a long time,” The official said in statements to a news channel last weekend.
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