He economist Fausto Spotornoformer member of Advisors Council of the president Javier Mileioffered his analysis of the current inflationary situation and said “Sales contain inflation”. In radio statements, he stressed that the exchange rate It began to corrected without generating a significant transfer at prices, What would explain the recent deceleration of the official index.
During the interview, Spotorno linked the recent stability of inflation with the drop in consumption And he assured that the need to maintain the level of sales prevents many companies from applying increases.
“Inflation in part It is contained by the limit to rise prices continuously to be able to sell”, Explained. In that frame, he stressed:“Sales contain inflation”
The economist said that this phenomenon especially affects Mass consumptiona item beaten both by the process of disinflation as for the Relative pricingin particular the public services. In addition, he mentioned that the Consumer credit growth redirected part of the demand to sectors such as cars, motorcycles and appliances.
Inflation analysis
When evaluating the evolution of Consumer Price Index So far from 2025, Spotorno described a decline that did not occur continuously, but in differentiated sections.
“We come with a decrease in inflation that is not continuous every month, but what we see is that it goes down like steps“He said.” Three months ago we wondered if the floor of 2%broke, and now it seems more like a roof than a floor, “he added.
The exchange rate and monetary policy
Regarding the Evolution of the dollar And its eventual impact on prices, Spotorno considered that the last increases did not generate a significant effect on inflation.
“We may have these dollar fluctuations without too much transmission to inflation“, He said. In his opinion, this phenomenon is due to a monetary policy”Responsible and more orthodox”, Which would have contributed to sustaining stability.
In that sense, he argued that exchange rate It was appreciated and that the market began to correct that situation. “The exchange rate is neglected when the dollar rises without having that impact on inflation or having a minimum impact”, He explained.
“The exchange rate and What is being seen now is that the dollar goes up without having such an important impact on prices And therefore it is neglected, ”he concluded.
In this way, the presidential exassor presented a Optimistic look on prices tendency and highlighted the role of the market as a brake on inflationary advance.
Source: Ambito
