Argentina's inflation reached its highest level of the year at 3.7% in June

Emen.- Inflation of Argentina reached in June the highest level of the year at 3.7% compared to the previous month, as a result of the recent currency crisis, the increase in utility rates and the failure of anti-inflationary policy.

According to the report of the National Institute of Statistics and Census of the South American Country (Indec) published this Tuesday the Higher prices were recorded in the sector of l & # 39; 39, food and non-alcoholic beverages, 5.2%, the transport sector with 5.9% and health with 4.3%, according to international agencies.

Argentina accumulated since December 2017 is 16% making it the second country in Latin America with the highest inflation after Venezuela.

This is the first official report of inflation in this country, after c risis exchange of last May in which the peso was devalued by more than 20% . Until now, accumulates a depreciation of 50%. At the exchange rate situation was added in May the increase in drinking water rates in 26% and the subway service in 46%.

Analysts estimate that the Argentine government's policy to adjust the interest rates to contain

The Center of Studies of the New Economy (Cene) of the University of Belgrano, cited by the AP agency, explains that the strategy to fight against inflation uses exclusively monetary policies, taking into account the problem only as a Monetary phenomenon, does not work in high inflation economies, since is in this case a "multicasual phenomenon" in which the monetary, non-monetary and inertial elements are mixed.

"Therefore, the success of any anti-inflationary strategy that is addressed requires an integral approach that tackles all inflationary factors," says the Cene.

The rise in prices slowed in July, after a greater exchange stability after the signing of the agreement between the International Monetary Fund (IMF) and the South American country for 50 billion dollars.