The Ipim rose more than the CPI in the seventh month of the year. This responds fundamentally to a basket composed of products more sensitive to dollar movements.
Wholesale inflation accelerated to 2.8% in Julyfundamentally promoted by imported products and national agricultural products. Price dynamics were influenced by the overheating that the dollar had during the month in question.
According to Indec this Tuesday, the Division of imported products showed a monthly increase of 5.7% and explained a good part of the variation in the Internal Internal Price Index (IPIM).
It is worth remembering that it was a month in which The official wholesale exchange rate had an increase of 14%. This has more incidence in the IPIM than in the Consumer Price Index (CPI) since the basket of the former is mainly composed of “tradable” products, that is, that are usually marketed with other countries.
While the effect on imported items is more direct, the increase in the dollar also influences exportable goods. Example of this were the Agricultural products, which climbed 4.2%.
In aggregate terms, articles of national origin had an average increase of 2.6%. In addition to the aforementioned increases in agriculture, prices adjustment in chemical substances and products (+4.3%), refined oil products (+3.9%) and vehicles (+3.7%) were also relevant.
Despite the acceleration, the IPIM climbed 12.3% in the first seven months of the year, below the 17.3% that the CPI experienced. Also, in interannual terms wholesale inflation grew 20.9%, against 36.6% of the retailer.
On the CPI, the “pastroough” was limited
The effect of the dollar rise on retail inflation was lower, since The CPI showed an increase of 1.9% in July. In this case, seasonal factors were more important, such as winter holidays that affected the price of services such as tourist packages or hotels, or increases in fruits and vegetables.
In addition, adjustments such as public transport, schools, prepaid, light, gas and water, and communications, and communications were traced upwards.
Source: Ambito
