Record inflation: the cost of living index in June was the highest in the macrista era | Economy

Inflation in June was between 3.5% and 4.1% due to the acceleration caused by the strong devaluation of the peso and Argentina was already outpacing the target of 15% set by the government for the whole of the year 2018, according to economic consultants

In just five months after changing the inflation targets and after the triggering the currency crisis in late April, the Macri management has recalculated and eliminated directly the target of 15% for 2018.

The government is betting that inflation closes the year 27%, 2.2 percentage points higher than that recorded in 2017, burying the path of disinflation.

Elypsis economist Eduardo Levy Yeyati noted that his preliminary investigations indicate that monthly inflation in June was 3.8% nationally, showing a sharp acceleration compared to May when the basic indicator, which does not account for seasonal increases or rate adjustments, indicates that inflation is set at 4.2% in June.

Economics Foundation Germán Abdala reported that its price index (IRP) recorded an increase of 4% per month in the sixth month of the year, reaching 29.6% per annum. "In this way, the impact of the current movement of exchange rates on prices is beginning to be observed," he said in his report. Underlying inflation was even higher and stood at 4.1% monthly, the highest since December 2015 and compared to the same month of 2017 grew by 26.1%, he said.

reported that the inflation measured by its retail price survey (RPM) showed an increase of 3.7% in June, bringing the indicator to 29 , 8% per year. Underlying inflation was about 3.7% a month in June and 28.8% a year, according to the consulting firm whose director is the economist Marina Dal Poggetto.

Estudio Orlando Ferreres y Asociados, reported that the inflation indicator for June showed an increase of 3.9% per month and 28.4% per annum. "The impact of the devaluation has arrived," said economist Fausto Spotorno after the currency crisis that pushed up the dollar's exchange rate by 70 percent in the last twelve months. Inflation reached 15.5% during the first half of the year, thus reaching the target set by the government for the whole of 2018.

C & T indicated that his badysis showed that inflation in June was 3.5%, or 30% in the last twelve months.

Ecolatina, forecasts inflation of 3.5% for the month of June and 30% for the whole of the year.