Argentina's National Institute of Statistics and Census (Indec) Tuesday announced that April's Consumer Price Index (CPI) stood “at 8.8% in April 2024 compared to March and 289.4% year-on-year.” The government agency also noted in its X account that “they accumulated an increase of 65% in the first quarter.”
Inflation outpaced salaries in March by 11% to 10.3%, according to a report by Argentina's National Institute of Statistics and Censuses (Indec) released Friday in Buenos Aires. In yoy terms, the Wage Index increased by 200.8% on average (231.7% in the registered private sector, 183.7% in the public sector, and 129.2% in the informal private sector) and inflation was 287.9%, the survey showed. Hence, President Javier Milei's perception that salaries were recovering turned out inaccurate.
The Bank of England’s Monetary Policy Committee (MPC) at its meeting ending on 8 May 2024, voted by a majority of 7–2 to maintain Bank Rate at 5.25%. Two members preferred to reduce Bank Rate by 0.25 percentage points, to 5%.
Argentina has introduced a new denomination of banknotes, the 10,000 peso bill (equivalent to about 10 U.S. dollars), in response to the country's ongoing struggle with high inflation. The Central Bank of Argentina (BCRA) announced that these new banknotes will gradually enter circulation starting this Tuesday and be available at bank branches and ATMs nationwide.
Argentina's Central Bank (BCRA) this week lowered the benchmark interest rate by another 10 percentage points to 60% annually, it was reported in Buenos Aires. It was the fourth such cut since Javier Milei took office on December 10, 2023, when the rate stood at 133%. BCRA announces that as of 04-25-2024, the rate for 1-business-day maturity passive operations will be 60%, it said in a statement. It was also the second 10-point cut in April alone.
Argentina's Economy Minister Luis 'Toto' Caputo insisted Wednesday in Washington DC during his participation at the International Monetary Fund's (IMF) Spring Meeting that his country would be achieving a one-digit inflation rate shortly.
According to a report from Argentina's National Institute of Statistics and Census (Indec) released Tuesday in Buenos Aires, the South American country's Consumer Price Index (CPI) went up 13.2% in February of 2024 for a yoy total of 276% amid notorious declines in industry, construction, and consumption.
Argentina's Central Bank Monday lowered the annual interest rate from 110% to 80% to strengthen the national economy and improve liquidity in the financial market, it was reported in Buenos Aires. In addition, it was left up to each bank to decide on the minimum rate for fixed-term deposits.
Paraguay's Central Bank (BCP) announced this week that inflation in February amounted to 0% from January's values despite increases in education and food, particularly eggs, it was reported in Asunción. In the same month last year, the Consumer Price Index (CPI) had gone up 0.5%. However, these achievements have a price tag.
Brazil's Central Bank (BCB) President Roberto Campos Neto said on Monday that inflation in South America's largest country was taking a turn in a benign direction, Agencia Brasil reported. In his view, the services sector requires the most attention because it has started to put a bit of pressure on prices.