The Secretary of Economic Policy expressed himself after knowing the inflation for March. “We expect a decline of some magnitude in April,” he said.
March inflation accelerated again for the fourth consecutive month, stand at 7.7%the highest level since April 2002. In this regard, gabriel rubinsteinSecretary of Economic Policy, listed factors that influenced this rise and stressed that they expect “that they are not present in April”, for what they would expect “a decline of some magnitude in the overall index.”
“We will continue trying to lower inflationcombining fiscal and monetary policies that remain consistent with much lower inflation rates,” said Rubinstein, indicating that These will be carried out “together with income policies (agreements with companies and others), that help curb the inertial aspects of high inflation rates”.
Specific, the secretary detailed the “increases in regulated goods and serviceswhich tend to increase at this time of year as education (29.1%)increases in very strong seasonal items, such as fruits (14.2%) and vegetables (9.1%), to which was added the increase in clothing (9.4%) due to seasonal change”. “During the first quarter of the year, the drought, the high temperatures and the bird flu generated a greater impact on fruits, vegetables, beef, chicken and eggs, which together contributed 2.1 percentage points to March inflation”, Rubenstein explained.
This last point is particularly noteworthy. for the economist since “drought and bird flu influenced increases of 11.5% in beef and 26.7% in chickenwith a significant incidence in the CPI”. “If we consider core inflation and subtract meat, the rise would have been 6.5%which is also a very high record, although one step below the general rise in the CPI,” revealed the secretary.
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The figures of march inflationpublished this Friday by the INDEC, required a rapid reaction from the Government. The price increase index accelerated in the last month to a 7.7% on average, accumulating 21.7% so far in the first quarter of 2023. The situation that affects the family economy of the entire country prompted the presidential spokesperson, Gabriela Cerruttito communicate the position of the national administration.
“The number we see today represents the worst moment of the impact of the war on international prices and the worst drought in the country’s history. We know, it hurts us, it occupies us, how it affects daily life and each family,” the presidential spokeswoman wrote.
In that sense, Cerrutti assured that “we are redoubling our efforts, convinced that the path is sustain the growth and order that we are achieving. And we know that most analyzes show us that this was the worst moment and that began a downward trend which we hope to see reflected soon”.
Thus, the Consumer Price Index accumulated in the first quarter of the year a increase of 21.7%, while in the last 12 months it reached 104.3%, the highest level since September 1991.
Source: Ambito
