The Argentinean Consumer Price Index (CPI) rose by 1.8% in January 2018, after increasing 3.1% in December 2017, said the country’s statistics office. Despite the deceleration, the reading was higher than market expectations for the monthly consumer price inflation (+1.5%).
The result was primarily influenced by higher costs for entertainment and culture (+3.5%).
Last year, the annual inflation reached 24.8%, well above the central bank’s target for 2017, of between 12% and 17%. The monetary authority aims to reach a 15% annual consumer price inflation in 2018.