“The government will advance the vital and mobile minimum wage to June 2022 in an amount of $45,540, which is the same amount of the basic food basket for the month of April. In turn, if we take into consideration the basic basket of Buenos Aires, it is in $52,169. In other words, as of April, it is 13% below the minimum wage advance that will be received in June. The price of food is being a big problem for Argentine families, where in many cases they are modifying their composition so as not to increase their income. spent” said Damián Di Pace Director of Focus Market Consulting.
“Inflation expectations accelerated in the last month. In the case of food, the year-on-year increases in the Provinces of Buenos Aires measured by INDEC itself are worrying. Bread and cereals increased 68.8% compared to April 2021, Meat and derivatives 63 .8%, Milk, dairy products and eggs 67.7%, Coffee, tea, yerba mate and cocoa 73.5 In the case of Vegetables, tubers and legumes the year-on-year increase was 65.5% but only in the first quarter of 2022 increased 53%,” said the economist.
“CThe stage of correction of the relative prices of the economy begins. The official exchange rate is being devalued to 4% when it was below 3%. In the coming months, there will be an increase in the prices of water, electricity and gas, which will be stronger in industry and commerce than in the home. In turn, there are still increases in Fuels and only in the first quarter of the year, according to Paetac, Freight transport had an increase of 25%. The parity adjustments will have an impact on the structure of costs and prices and in many sectors of the economy there are still visible inconveniences to obtain dollars to import, “he concluded.
Source: Ambito
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