For example, the basket that relieves weekly mind the consulting firm LCG presented in July a rise of 7.4% measure from end to end, a figure “comparable to that observed in the month of March,” said the firm. During the fourth week, the percentage of products with increases within the basket decreased to 24% after three consecutive weeks of staying above 30%. “So, the inertia slows down at the margin: all the products in the basket register an increase per month”, detailed from the consultant.
The items that presented the highest increases in the month were “bakery products, cereals and pasta” (9.6%); “vegetables” (9%), “dairy products and eggs” (8.8%) and “drinks and infusions to consume at home” (7.7%). Oils, for their part, rose 5%; “fruits” 3.6% and “meats” 3.1% (it was the item that rose the least in July).
Eco Go, meanwhile, forecast a rise of food consumed at home in the order of 5.9% for July.
When analyzing the factors that drove this rise in food, Damián Di Pace, director of the consulting firm Focus Market, pointed out: “Inflation is lagging due to the strong monetary issue, but prices also accelerated for other additional reasons: the restriction on imports, which generated that in certain goods there is an expectation of lack of replenishment of the stock; another is the rise in parallel exchange rates, because by not having access to the official exchange rate, the market saw more of the CCL dollar, which had a gap of 150%, than the wholesaler; and on the other hand, negative expectations regarding the acceleration of this monetary issue and fiscal lack of control by the Government”.
Measures
“The arrival of Massa, what tends is to try to show a plan. But we have to see what is proposed to rebalance this very delicate macroeconomic picture. We’ll see what comes up in the ads. But today, its great objective should be that in the coming months Argentina does not have triple-digit inflation. Today, unfortunately, we must not think about a slowdown in the short term of inflation, but we must hope that it does not continue to increase, “Di Pace added to Ámbito.
Meanwhile, when analyzing what could be the economic plan announced by Massa in the coming days, from Ecolatina they remarked: “There are still no definitions of concrete measures and actions, but we continue to reaffirm that the set of economic policy set forth in the agreement with the IMF will continue to be the roadmap for the future, not necessarily out of conviction, but because of the limitations imposed by reality”.
Among some of these limitations, from the consultant they highlighted that “with the current levels of inflationary dynamics, gap and shortage of reserves, there is no margin to apply an exchange anchor”. In this sense, they argued that “the context of higher interest rates, fiscal austerity and limitations on imports” confirms the consultant’s vision of “a second half of higher inflation and lower activity than the first”.
“The new economic driving will have advantages over the previous ones due to fewer internal obstacles and greater agility in management. But you will have ahead challenges of defusing expectations of an immediate crisis, addressing latent imbalances (shortage of reserves, high inflation, fiscal deficit, exchange rate gap) and stabilize the situation beyond the short term, to which the administration of a delicate economic-political-social balance will be added”, they concluded from Ecolatina.
Commerce secretary
One of the positions that remained vacant in the last days of changes in the Government was that of the head of the Secretary of Domestic Tradea position on which the negotiations with food companies and supermarkets fall, and which is responsible for regulating the Prices Careamong other official programs linked to food and mass consumption.
It is that on Friday he presented his resignation from the position Martin Pollera, who lasted less than a month in the post: he had arrived on July 6 to replace William Hang, appointed by the Minister of Economy Silvina Batakis. Hang, for his part, had lasted 44 days in the post, after succeeding Robert Feletti.
Source: Ambito
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