“With this data and considering a variation projection of 1.4% for the remaining weeks, the inflation of food consumed at home in October would reach 7.4% per month (it was 7.3% in September)”, they added.
This projection would place the food category again above the general index. It is that, according to the consulting firm Eco Go, inflation would stand at 6.6% in October“driven both by the drag of the month of September (3.6%) and by the rise in regulated items, where increases in prepaid (11.53%), electricity rates (18.2%) and water (10%) stand out. ), domestic service (7.5%), telephony, internet and television (19.8%) and fuels (6% average), among others”.
In that line, Eugenio MariChief Economist of the Fundación Libertad y Progreso, told Ambit: “October is shaping up to be another month of monthly inflation around 7%, as were July, August and September. Our measurement forThe first week of the month gives us a general inflation of 4.5% and food inflation of 5.3%. Both data are slightly above those recorded in the same period in September.
“Annualized, inflation is around 120%, confirming that our country entered a 3-digit annual inflation regime. This situation causes prices to be distorted and consequently the main traffic light that the economy has does not work correctly. Under this scenario, unfortunately, it is difficult to think that the economic recovery will be sustained in the coming months and in the next year”Mari added.
For its part, according to the index prepared by the consultancy LCGfood climbed 2.8% in the first week October, accelerating 1.7 percentage points compared to the previous week and accumulating a rise of 8% in the last four weeks. It is, together with the data for July, the highest rise for this basket in the first week of the month so far this year.
The “bakery products, cereals and pasta” were the ones that increased the most in the first week (7.4%); followed by “dairy products and eggs”; 5.9% and “vegetables”, 4.6%; while “fruits” climbed 3%. On the other hand, “meat” presented a contraction of 0.2%, which contributed to the fact that the increase in the basket was not even greater.
September data
On Friday, INDEC will announce the data of the september inflation. According to the analysts consulted in the REM of the BCRA, the IPC would have risen last month by 6.7%. For its part, the index prepared by Libertad y Progreso registered an advance of 6.9%, and the item “food and non-alcoholic beverages” was the one with the highest incidence.
Meanwhile, the survey of retail prices of S&T for GBA presented a monthly increase of 6.8%, with food and beverages climbing 7%. “In its interior there were generalized increases, but oils, vegetables and non-alcoholic beverages stood out. The meat accelerated significantly in the second half of the month”, they analyzed from the firm.
“In September, food marked a rise of 7.6% above the general indicator of price variation, which was 6.8% for the same period. The most important increases are observed in Meats, fruits and vegetables and for the mass consumption basket in Cleaning items”, said Damián Di Pace, director of the consulting firm Focus Market.
Source: Ambito
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