April’s inflation number will be lower than in March, but increases continue to run at high levels. According to the latest survey by LCG Consultores, in the third week of April the increase in food prices averaged 2.1%, accelerating 0.2% compared to the previous week. The Food and Beverages index presented an increase of 5.7% average in the last 4 weeks and 4.4% point by point in the same period.
Among the products with the highest increases are Bakery Products, Cereals and Pasta (4%), Condiments and other food products (3.7%) and Meats (3.5%).
Three weeks after the official announcement, the Ministry of Internal Trade published in the Official Gazette the instrumentation of the Wheat Stabilization Trust to subsidize and lower the price of bread in stores. The government would start paying the economic transfer to the mill starting next week. Therefore, the increase in prices of Bakery Products does not contemplate the measure.
The same goes for meat. Despite the Government’s attempts to stabilize the market, the prices of beef on the shelves of supermarkets and butchers do not stop rising and in March they accumulated a year-on-year increase of around 60%. In this framework, the data for April do not seem to be encouraging at all. It is that according to the last survey of the consulting firm LCG the product shows an accumulated increase to the third week of the month of around 7%.
Yesterday, Feletti and the Undersecretary of Policies for the Internal Market, Antonio Mezmezian, held a working meeting with representatives of supermarkets of Chinese origin from the Buenos Aires Metropolitan Area (AMBA) that are already implementing the +Care Prices program with 60 products for proximity shops.
Source: Ambito
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