UPDATE 1-Argentina reports May inflation steady at 0.7 percent

Fri Jun 14, 2013 3:24pm EDT

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BUENOS AIRES, June 14 (Reuters) - Argentina's official
inflation was reported at 0.7 percent in May,
matching April's rate and coming in just below  the 0.8 percent
reading in May 2012, government data showed on Friday.
    The country's inflation figures are widely disputed, and
private economists estimated that consumer prices rose by 1.7
percent last month, according to the median in a Reuters poll of
four analysts. 
    The government forged agreements with top retailers to
freeze prices from February through May, and focused the accords
on 500 basic products starting June 1. Many analysts think the
government aims to keep consumers happy until October's mid-term
elections.
    
    Official data from the INDEC statistics institute follows:
                    Latest        Previous        Year Ago
 Monthly           0.7 pct         0.7 pct         0.8 pct
 CPI                                           
 Food and          0.1 pct         0.3 pct         0.7 pct
 beverages                                     
 CPI in last       10.3 pct       10.5 pct         9.9 pct
 12 months
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