Inflation in Argentina moderates in November but accumulates 85.3% in 2022

Inflation moderated in November in Argentina to 4.9% per month, but the increase in prices so far this year ranks as one of the most important in the world, with 85.3%, the state Institute of Statistics reported on Thursday.

The November index is the lowest registered since February, when it had marked 4.7%.

The item with the highest increase in November (8.7%) was housing, water, electricity, gas and other fuels. The one with the lowest increase was food and non-alcoholic beverages (3.5%), although throughout the year it was one of those that grew the most.

This Wednesday, activists from social organizations held a demonstration outside supermarkets to protest against the high cost of living and the increase in food prices.

The government of the president of Argentina, Alberto Fernández, tries to curb the runaway inflation with price agreements with various sectors. Until now, it has obtained commitments from food, clothing and footwear companies, or gas stations, among others.

Several years, Argentina records annual inflation in double digits. The persistent increase in prices affects poverty, which in the first half of 2022 reached 36.5% of the population of almost 46 million inhabitants. Inflation was 50.9% in 2021.

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