UPDATE 1-Argentina says October inflation 0.8 percent - News

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UPDATE 1-Argentina says October inflation 0.8 percent

By: AFX | 12 Nov 2009 | 03:27 PM ET

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BUENOS AIRES, Nov 12 (Reuters) - Argentine inflation was 0.8 percent in October, boosted mainly by increases in education and clothing prices, the INDEC national statistics agency said on Thursday. The monthly figure was below a median forecast for a 1.0 percent increase in a Reuters poll of seven analysts. Estimates in the survey ranged from 0.6 percent to 1.0 percent. It was the fourth consecutive month that INDEC has reported inflation that was slightly higher than in the preceding months. Analysts said this suggested the government may be trying to gradually narrow the gap between official price data and private estimates. "The gap between the official inflation readings and 'true' inflation is narrowing, a trend that we expect to continue in the coming months as the government tries (albeit gradually) to rebuild the credibility of the official statistics," Carola Sandy, an analyst for Credit Suisse in New York, said in a report. Education-related costs led October's price increases, climbing 1.4 percent, followed by clothing costs, which rose 1.3 percent, INDEC said in a statement. Argentina reported September's inflation rate at 0.7 percent while consumer prices rose 0.4 percent in October 2008 . October's increase in prices brought accumulated inflation to 5.8 percent since Dec. 2008, the report also showed. (Reporting by Vivianne Rodrigues; Editing by Theodore d'Afflisio) ((helen.popper@thomsonreuters.com; +54 11 4318 0655; Reuters Messaging: helen.popper.reuters.com@reuters.net)) ((For help: Click "Contact Us" in your desk top, click here or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: training.americas@thomsonreuters.com ; +1 646-223-5546)) ((For historical Argentine statistical data in Spanish, please see pages through)) Keywords: ARGENTINA ECONOMY/INFLATION (Xtra: To see a calendar of Argentine economic indicators please click on or type in ARECI02 on a quote page and press enter. For separate pages detailing Argentine analysts' economic forecasts, click on,, and) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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