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UPDATE 1-Argentina says November inflation rises to 0.9 pct
December 14, 2012 / 7:31 PM / 5 years ago

UPDATE 1-Argentina says November inflation rises to 0.9 pct

BUENOS AIRES, Dec 14 (Reuters) - Argentina’s official inflation was 0.9 percent in November, rising slightly from October’s 0.8 percent rate, the government said on Friday.

The country’s official inflation figures have been widely discredited since 2007, however. Five a nalysts polled by Reuters estimated that consumer prices actually rose 1.9 percent last month, according to the median forecast.

Growth in Argentina, Latin America’s No. 3 economy, slowed quickly this year after reaching 8.9 percent in 2011. But inflation remains persistently high with private estimates hovering near 25 percent a year.

The INDEC national statistics institute said November’s consumer inflation was driven by a 4.7 percent increase in the price of housing and basic services and a 1.0 percent rise in the cost of household goods and equipment.

Prices in the heavily weighted food-and-beverage category rose 0.3 percent last month.

Inflation in the 12 months through November totaled 10.6 percent, INDEC said.

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