Foods
In this scenario, according to the survey of retail prices carried out by EcoGo, In the third week of October, the price of food registered a variation of 1.8% compared to the previous week. “This implies an acceleration of 1.0 pp in the margin”, they pointed out from the firm.
“With this data and considering a weekly variation projection of 1.4% for the last of the month, the inflation of food consumed at home in October would climb to 7.1% monthly”, they added from EcoGo.
Thus, food would rise again above the general level of inflation. From the consultant they estimate that it would be located at 6.5%. “Regulated products drove the general indicator for the month upwards, highlighting increases in prepaid (11.53%), water rates (10%), domestic service (7.5%), telephony, internet and television (19.8 %) and fuels (6% average), among others”, they detailed.
Along the same lines, the survey of Food prices carried out by LCG presented an increase of 1.9% in the third week of October. “As a result of a weekly average price increase of 2.1%, October already accumulates an increase of 6.5%, a dynamic similar to that observed in the same weeks of September. The average inflation of the month is located for the fourth consecutive week at 8% per month”, they detailed from the firm.
“The percentage of products with increases within the total basket was 24%, in line with the behavior of the previous weeks. This percentage means that all the products in the basket would be registering at least one price increase in just over a month”, they added.
During the third week of the month, “meals ready to go” increased by 5.1%, while vegetables climbed 3.6%. Dairy products and eggs, meanwhile, rose 2.3% and meat, 1.1%. Regarding the average variation of the last four weeks, it stands out that dairy products and eggs rose 12% and vegetables, 9.9%. Meats showed a variation of 7.5%.
For its part, according to the IPC GBA Ecolatina, in the first fortnight of October food rose 6.7% compared to the same period in September. The increases in Vegetables (23.0%); Oils (10.1%); Fruits (8.1%); milk (7.6%); Noodles and pasta (7.5%) and Candies, Candies and Cocoa (7.5%).
Reasons for increases
When analyzing which are the foods that rise the most and what may be the reasons that explain these increases, Damián Di Pace, director of Focus Market, explained: “What is rising strongly are seasonal products, especially fruits and vegetables. Last month they doubled the price variation with respect to the rest of the food. And this month comes the same, growing strong. The drought is causing significant losses in the field and, in addition, due to the rise in fertilizers and agrochemicals, there was a lower level of sowing, which is why there is a lower level of harvest”.
“Remember that also many of the foods that are processed at an industrial level depend on the price of commodities: For example, flour depends on the value of wheat. So, there are also increases in the second instance as a result of this phenomenon,” said Di Pace, who concluded: “That is to say, in addition to the inertia and macroeconomic distortion that Argentina has, on top of that, the climate and the context do not help”.
In this scenario, from the Government final details to launch “Fair Prices” in mid-November. This was confirmed days ago by the Minister of Economy Serge Massawho assured that seven companies from massive consume They have already confirmed their participation in the program.
As Massa detailed, The program will take effect on November 15 and will run until March 15. and the idea is that the price is fixed in the product package. From the Ministry of Commerce they indicated that the final objective is that there be 2,500 within the program and that it could be launched in “stages”.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
