Argentina saw inflation of 3.4% in February, 0.3% lower than January, under a new price index drawn up with IMF advice, Economy Minister Axel Kicillof said Monday.
Private analysts were expecting a rate around 4.3%.
Kicillof, in a press briefing, linked the rising prices to "a lot of price distortion in January and February."
Prices have been rising steadily in recent months particularly since January, when the peso shed 18 percent of its value against the US dollar.
In January, Buenos Aires launched a new system to track inflation; the government had come under heavy criticism for releasing rates that private consultancies regularly said were about half the real figure.
The new IMF-assisted model tracks price rises nationwide not just in the capital area.
Separately Monday, Moody's lowered its credit rating for Argentina by one step Monday, to Caa1 from B3, citing a sharp fall in the country's reserves and inconsistent economic policies.
Argentina saw inflation of 3.4% in February, 0.3% lower than January, under a new price index drawn up with IMF advice, Economy Minister Axel Kicillof said Monday.
Private analysts were expecting a rate around 4.3%.
Kicillof, in a press briefing, linked the rising prices to “a lot of price distortion in January and February.”
Prices have been rising steadily in recent months particularly since January, when the peso shed 18 percent of its value against the US dollar.
In January, Buenos Aires launched a new system to track inflation; the government had come under heavy criticism for releasing rates that private consultancies regularly said were about half the real figure.
The new IMF-assisted model tracks price rises nationwide not just in the capital area.
Separately Monday, Moody’s lowered its credit rating for Argentina by one step Monday, to Caa1 from B3, citing a sharp fall in the country’s reserves and inconsistent economic policies.
