“Although this annual increase is high, it is well below the annualized inflation of the first semester, which was 76.3%, and everything indicates that the second semester of the year will be worse in terms of inflation, since these values are prior to the segmented tariff adjustment that will have a greater impact on high-income households and on the escalation of the dollar that skyrocketed with the abrupt departure of former economy minister Martín Guzmán”, highlighted the UCEMA report.
And he added: “Today, annual inflation in the CPE is expected to be comfortably above 80% by the end of the year and it would not be surprising if it reaches over 90% or even 100% annually.”.
Executives in Argentina need $685,070 pesos per month
In current pesos the Executive Professional Basket increased by $169 thousand in relation to the value of December 2021 and reached a total of $685,070, according to the survey. This is 58 times the value of $11,787 with which the survey of this index began in March 2008. Measured in free dollars, the cost of the CPE was US$2,969.
According to the Center for Applied Economics (CEA) of UCEMA, the education chapter was the one that increased the most in the semester with a rise of 44%. The chapters on food and beverages, clothing and health also registered increases of more than 40% per semester. While home equipment and maintenance expenses -not including fees- increased by 38%.
Meanwhile, the report noted that Below the average are the chapters on transportation and communications, housing and basic services, with six-monthly variations of 30.1% and 29.9%, respectively.
It should be noted that these chapters have a strong component of regulated prices and it is expected that in the second half of the year they will rise more strongly due to the correction of rates. The chapter that increased the least in the first semester was leisure, which registered a 15.3% increase.
In relation to the first semester of 2021, the item that increased the most was clothing with an increase of more than 80% per year, the report detailed.
It is worth mentioning that the Index is developed monthly since 2011 by the UCEMA Center for Applied Economics.
Source: Ambito
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