UPDATE 1-Argentine March inflation slows slightly

Wed Apr 14, 2010 3:39pm EDT

* Analysts expected 1.5 pct, private forecasts higher

* March figure takes 12-month inflation to 9.7 pct (Recasts, adds details, background)

BUENOS AIRES, April 14 (Reuters) - Argentine inflation slowed slightly to 1.1 percent in March as food prices continued to climb as government figures came in at less than half of private estimates for real price rises.

The data released by the INDEC national statistics agency was below market expectations and was likely to added to a widening gap between official and actual inflation fgures.

The result was slightly below the median forecast of 1.5 percent in a Reuters poll of eight analysts.

Food prices climbed 2 percent in March according to the government figures. Education costs rose 1.7 percent and clothing prices were up 0.9 percent.

Economists, the opposition and renegade INDEC employees accuse the government of under-reporting official reporting price data for political reasons, as well as to save money on the repayment of inflation-indexed bonds.

Inflation is expected to rise to more than 20 percent this year, according to private forecasters.

(Reporting by Helen Popper; Writing by Kevin Gray, Editing by Chizu Nomiyama) (helen.popper@thomsonreuters.com; +54 11 4318 0655; Reuters Messaging: helen.popper.reuters.com@reuters.net))

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.