Pending the inflation data that will be released this Friday through INDEC, a new survey by the consultant shed light on the price variation in some products.
Waiting for the data inflation that will be announced this Friday through the INDEC, the survey of Focus Market for the month of March gave two new information so far: firstly, that the food basket amounted to $86,032 in March and, secondly, that the price variation in some products exceeded three interannual digits.
“The variation in food prices in the month of March exceeds three interannual digits. The drought has affected basic categories such as rice, yerba mate, fruits and vegetables, among others. The minimum vital and mobile wage that amounted to $69,500 is 24 % below the basic food basket. Even with the adjustment planned for April of $80,342, it would remain 7% below the basket,” said Damián Di Pace, director of the consultancy.
“The agricultural dollar will put pressure on inflation in 2 ways, since the issuance by the BCRA to acquire the liquidated dollars will be 1% of GDP and because it will put pressure on the prices of food in the domestic market for sunflowers, olives, corn , wheat, barley, rice, fruits, fish, poultry, honey, sugar, tea and yerba mate among others”.
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The food basket survey is prepared by Focus Market via Scanntech with the data on what each of the households needed to complete the basket, average and year-on-year increase in prices, which rose and fell the most year-on-year and seasonally adjusted.
“The latest data for the second semester of 2022 left a floor for indigence in our country. The drop to 8.1% compared to 8.2% in the previous semester occurs within the framework of a placebo effect of plans such as the food card or the universal allowance per child that have suffered adjustments in subsidies of between 9% and 10% compared to the first semester of 2022. Faced with the variation in prices that we are surveying in the food category, indigence will continue to rise in our country despite the attempt containment with social plansadded the analyst.
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“The drought has wreaked havoc on the inflow of dollars to our country and the production of food in the primary sector of the economy. Massa aspires to be able to improve the situation with the launch of the agricultural dollar, reimbursements from the IMF and loans from international organizations. However, from now on the external restriction with stocks will not have any changes or reversal, therefore the inflation floor will remain at 6% in the coming months,” said Damián Di Pace of Focus Market Consulting
Source: Ambito
