Wholesale inflation in July was 0.8%, the lowest in 14 months

Wholesale inflation in Argentina stood at 0.8% during July, representing a deceleration of 0.3 percentage points compared to the previous month. This figure was met with optimism by President Javier Milei, who celebrated the number by saying, "In the end, it started with zero."

According to reports, this wholesale inflation rate is the lowest recorded in 14 months. Year-on-year, the increase was 31.3%, while the year-to-date figure stands at 16.6%. Both indices are reported to be below the consumer price index for the same periods.

President Milei highlighted this achievement and also praised Luis Caputo for his role in the logistics of these results, indicating that this figure represents the lowest for a month of July since 2019.

On another note, it was reported that the cost of the basic food basket currently amounts to $697,000. Additionally, Vice Governor Santilli and Caputo are working on an agreement with governors from the northern part of the country.

In the labor sector, bank workers agreed to a new salary increase, with an initial salary exceeding $2.5 million, and in sports news, Boca Juniors won 4-0 against Recoleta.