LatinNews Daily - 24 August 2022

*Argentina’s national statistics institute (Indec) has released the latest figures on its monthly index of economic activity (Emae), showing that economic activity grew 1.1% in June 2022 as compared to the previous month and 6.4% compared to the same month of the previous year. This represents an increase compared to monthly growth of 0.1% in May but a slow-down in terms of year-on-year growth, which stood at 7.6% last month. Accumulative economic growth for the first six months of 2022 stood at 6.3%, well below the 9.7% rate of expansion in the same period in 2021. The sectors which posted the highest growth year-on-year in June 2022 were hotels & restaurants (+39.2%), mining & quarrying (+14.2%) and transport & communications (+10.8%). The only sector to register a decrease in year-on-year growth was agriculture, farming & forestry, down 4.9%. According to Indec’s latest consumer price index (IPC), monthly inflation reached 7.4% in July 2022, bringing annual inflation to 71%. 

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