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Retail prices in Argentina grow 4.8% in March, higher than expected

BUENOS AIRES, Apr 15 (Reuters) – Argentina’s retail prices, in its national measure, rose 4.8% in March, the National Institute of Statistics and Censuses (INDEC) said on Thursday, a figure well above the average. expected by analysts.

This is the highest monthly figure since 5.9% registered in September 2019.

A Reuters poll estimated an average inflation of 4% for the third month of 2021.

Inflation in the southern country accumulates a 13% rise in the first three months of the year and a 42.6% rise in the last 12 months.

“The largest increase in the month compared to February was mainly due to a higher incidence of ‘Regulated’ prices, which increased 4.5% per month -after a rise of 2.2% in February- due to the strong increase in ‘education’, in addition to increases in ‘fuels’, ‘tobacco’, ‘prepaid’, and some ‘services and transportation’, reported the Ministry of Economy.

Argentina is going through a long recession, amid the coronavirus pandemic, at a time when the Government seeks to reach an agreement on extended facilities with the International Monetary Fund (IMF).

The Government decided this Thursday to advance with a set of measures to contain the rise in prices in the food sector and guarantee the supply of food, inputs and industrial goods, it was officially reported.

“It is a scheme that promotes efficiency, competition and an increase in the supply of products in various areas of economic activity,” said a statement.

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(Reporting by Jorge Iorio; Written by Jorge Otaola; Edited by Walter Bianchi)

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