The general level of the Wholesale Internal Price Index (IPIM) registered an increase of 5.1% in March but slowed down sharply with respect to February when it had increased by 7%reported the National Institute of Statistics and Censuses (INDEC).
“In the month of March, wholesale prices slowed down 1.9 percentage points against a month ago, and this is the first time since October that the increase is less than 6% per month”they explained from lcg.
In the year-on-year measurement, the values rose to 101.9%. Regarding the breakdown of the IPIM during Marchthe national products category rose 4.9% and imported products 6.9%.
The drop in wholesale inflation This was mainly explained by the meager increase in Primary Products, which, to a large extent, is due to a nominal fall in the price of Cereals and Oilseeds, this happened, “in a context where the international price of soybeans fell 3.5 % per month, according to the World Bank,” said the same report.
In this sense, Primary Products contributed only 0.3 percentage points of inflation to the general indexwhen in the three previous months this item contributed 1.5 percentage points. Had it contributed the usual, the IPIM would have marked a monthly rise of 6.4%.
Besides, the general level of the basic wholesale internal price index (IPIB) showed a rise of 4.1% in the same period. In this case, the variation is explained by the 3.8% rise in domestic products and the 6.9% rise in imported products.
In addition, the general level of the Basic Producer Price Index (IPP) registered an increase of 3.5% in Marchas a consequence of the 1.2% drop in primary products, offset by the 5.6% rise in manufactured products and electricity.
It should be noted that last week inflation for March was known, which rose to 7.7%,the highest level since April 2002 (when the CPI climbed to 10.4% in April of that year, after the end of Convertibility), even exceeding the rise from 7.4% in July 2022.
Source: Ambito
