As can be seen from the report, the meats increased a 4.8%while the products of warehouse rose 6.8%, led by increases in milk (11.7%) and oil (7.1%). Fruits and vegetables, meanwhile, presented a variation of only 0.2%.
For its part, according to the survey carried out weekly by the consultancy LCGMay showed an average variation of 0.8% for food in the fourth week, remaining constant with respect to the previous week.
Also, the indicator presented a rise of 5% throughout the month, with oils climbing 7.5%; condiments and other food products, 7.4%; beverages and infusions to consume at home, 6.4% and meats, 6.4%.
Meanwhile, for the consulting firm Focus Market, the food category rose 4.9% last month. “In May, inflation with a average of 5% marks a very high pace of increases in mass consumption products linked to Personal Care and Hygiene and Cleaning. For its part, in the case of Food, the greatest increases were observed in Meats (5.8%) and Beverages, with increases of up to 7%. In turn, the variation in prices in clothing and footwear, prepaid, fuel, expenses and private schools impose an important weight on their participation in last month’s inflation,” said Damián Di Pace, director of the firm.
These increases occurred in a month that, moreover, culminated in the resignation of Robert Feletti as Secretary of Internal Commerce. Through a letter, the official made a balance of his management and reviewed some of the programs applied with the aim of containing the rise in prices. Among them, he mentioned + Care Prices, Care Cuts, the renewal of Now 12 and the start-up of the Argentine Wheat Stabilizer Fund.
Instead, the Economy Ministry appointed William Hang, who in recent days received representatives from the Argentine Federation of the Milling Industry (FAIM) and the Argentine Chamber of the Oil Industry (CIARA). In addition, businessmen from the food sector requested a meeting with him to address the new scenario of Cared Prices after the departure of Feletti himself.
what’s coming
Projections show that the upward trend in prices will not abate. In fact, as a result of different scheduled increases, inflation is expected to return to above 5% in June.
“This month, the increases will have an impact on regulated prices, as in the case of electricity and gas rates. that until now officiated as a support for inflation with respect to core and seasonal inflation, which always came above the average price index. In turn, these increases have a greater impact on Industry and Commerce, which is why we will see second-round increases that will influence prices on supermarket shelves,” Di Pace analyzed.
“A priori, June inflation would manage to be below 6%, although still above 5%: the expected increases in public service rates (electricity, gas and water), to which are added programmed increases in prepaid (10%), and rents, among others, will continue to maintain high inflation with greater inertia influenced by a greater indexation of the dollar, significant increases in parities in the short term and the lack of a robust anchor that allows anchoring expectations”, Ecolatina economist Santiago Manoukian had pointed out.
Source: Ambito
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