For example, as reported by Eco Go, “after a third week in which the announcement of the taking of new measures against inflation skyrocketed the price of foodsthe survey corresponding to the fourth week of March registered a variation of 1.6% of these prices with respect to the previous week”. “This implies a slowdown of 2.4 pp in the margin”, they pointed out from the firm, adding that, with this data, “inflation of food consumed at home would rise to 5.8%” in March.
For its part, according to the price survey carried out by the C&T consultancy, food and beverages grew 5.7% in the month, “slightly less than in February of this year and March of last year. “On the one hand, there was a big moderation in vegetables after the sharp climb in January and February. But, on the other, meat and wheat derivatives accelerated, especially in the third week of the month”, they remarked.
Therefore, from LCG they pointed out in their analysis last week that the food basket they survey presented an average increase of 5.4% in the month. “Baked goods and dairy products stand out, with average increases of 7.8% and 6.1% respectively in the last four weeks,” they explained from the firm.
Meanwhile, for Focus Market, the food rose 5.8% and among the most marked increases, flour (20.8%), eggs (19.2%) and fresh pasta (10.4%) stand out. “In food, the rise slows down compared to February, but hits basket basic food. The conflict Russia and Ukraine now comes to our gondolaswith the rise in the international price of corn and wheatbut also with the increase in rates of services that stick in the industrial and commercial sector”, said Damián Di Pace, director of the consultancy.
“The Government wants the wheat trust to find results in the April measurement. In the last three months, in Argentina there are double-digit increases in basic categories. What was strange at the end of last year is now becoming normal. The downward poverty and indigence data at the end of 2021 show a picture, which in the film as of March this year unfortunately has a harsher reality. The food basket is not fulfilled and poverty is growing again,” added Di Pace.
What measures did the government take?
With the objective of brake the rise of the prices, the Government took different measures over the last few weeks. In one of them, the Secretary of Internal Trade Roberto Feletti agreed with the directors of the main companies that produce mass consumption roll back the prices of 1,700 products to the values of March 10, as well as guaranteeing the correct supply in the gondola.
ROBERTO FELETTI
Telam
In addition, the Government signed an act agreement with industry representatives Baker to set prices for reference for a kilo of bread (between $220 and $270), for a period of 90 days. The values will be effective from the start of the Argentine Wheat Stabilizing Funda compensation mechanism through which it is sought to decouple the prices in the local market from international securities.
Finally, Feletti also pointed out that as of April 7, when the agreement for Prices Carethere will be a basket of 60 products for local businesses: according to private surveys, there is currently a 20% difference between the prices of products offered in large supermarkets compared to nearby stores.
Source: Ambito
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