11.01.201823:13:00UTC+00ARGENTINA: Monthly Consumer Price Index Accelerates To 3.1% In December

The Argentinean Consumer Price Index (CPI) rose by 3.1% in December, after increasing 1.4% a month before, said the country's statistics office. The reading was higher than market expectations (+2.1%).

As a result, in the 12 months of 2017 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.

The result was primarily influenced by higher costs for housing, water, electricity, gas and other fuels (17.8%) due to the increase in regulated tariffs.