The report indicates that the output of Robert Feletti of Internal Trade, “consolidates the idea of a single direction in the price policy. This unification of criteria is a necessary condition for some more consistent attempt to coordinate expectations to begin, but it is not sufficient.
In this sense, the economists who lead Claudio Caprarulo They indicated that “without guaranteeing a flow of dollars that feeds the reserves of the Central Bank, there will be no possible disinflation strategy; on the foreign exchange front, furthermore, the policy is contradictory”. “While the number of productive sectors with problems importing inputs increases, the purchase of consumer goods abroad is at record levels.”
Thus, “the share of imported consumer goods in total consumption is at record highs, and 20% above what would correspond to the current structure of relative prices and real income”.
“This dynamic of imported consumption responds to a different logic than that of the domestic market. For example, sales in shopping malls at constant prices are 23% below 2018, despite the recovery marked by this week’s INDEC data,” it was noted. ANDIn the first quarter of the year “consumption in shopping centers grew 26.8% year-on-year and the sale of household appliances 12.4 percent”, the report noted.
“The combination of the exchange rate gap, high inflation and political uncertainty generate incentives for these behaviors in companies and families, skewing decisions towards the acquisition of tradable goods. In simple words, what smells like a dollar, is bought”, stated the report.
“High inflation transforms any non-perishable good into an instrument to transfer wealth over time. In addition, silver burns; it is better to use it.” That is why the phenomenon of Coldplay is not accidental: inflation, the possibility of investing in pesos and dollars are limited and the best option seems to be to consume, consume and consume.
Source: Ambito
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