O INDEC release on Thursday the data from inflation November which will be less than 3 percent and accumulate so far this year around 42%, according to private estimates.
The October Consumer Price Index (CPI) fell by 5.4%, accumulating 45.9% in the last 12 months, due to strong increases in rates, prepayments and clothing and footwear. According to economic studies center Orlando Ferreres, November inflation was 2.5% a month.
"The price level continued to show signs of a slowdown in its growth rate in November," he said. Considering that "in particular, the items with the highest incidence were Food and Beverage, along with Miscellaneous Goods", with an adjustment of 2.5% and 5.8%, respectively.
While the sharp rise in prices affects the whole society, it is the lower-income sectors that suffer most severely. According to INDEC data, up to October, the basic food basket and basic needs – which determines the poverty index – accumulated an increase of 54.6%. While the indigence basket, which only computes food, recorded a year-over-year increase of 51.5%.
The consultant Elypsis, for his part, calculated that inflation was 2.8% in November. Meanwhile, the Market Expectations Survey (REM), published by the Central Bank, said analysts expect a slowdown in rising cost of living in the coming months.
In addition to this incipient brake on the inflationary trend, the year ends with a generalized price increase of between 45 and 50%, one of the highest in the world and comparable to what occurred in 1991. For Central Bank President Javier González Fraga, trend will slow in 2019 and inflation will be closer to 20 than the 30% estimated by the consultants.