BUENOS AIRES, April 13 (Xinhua) — Argentina recorded a monthly inflation of 6.7 percent in March, the highest in 20 years, the National Institute of Statistics and Census (INDEC) announced Wednesday.
Education rose 23.6 percent compared to February, registering the highest price hike, followed by clothing and footwear, which increased 10.9 percent, according to INDEC’s report.
Economy Minister Martin Guzman announced on Monday that March inflation figure was going to be the “highest of the year.”
The official said that “clear political support is needed” to contain price hikes, which is one of the main scourges hindering the country’s economic recovery.
“The top concern of economic policy is inflation, as well as ensuring that real incomes are recovered. It’s very important to provide confidence instead of uncertainty,” Guzman told local media.
Meanwhile, for the first quarter, the South American country accumulated a inflation of 16.1 percent with sustained increases, mainly in education (27.9 percent), food (20.9 percent), clothing and footwear (17.4 percent), and restaurants and hotels (16.2 percent).
Prices also rose in transportation (13.7 percent), healthcare (13.2 percent), communication (12.8 percent) and housing services, water, gas, electricity and other fuels (12.7 percent).
