Gabriel Rubinstein pointed against exchange rate uneasiness

Gabriel Rubinstein pointed against exchange rate uneasiness

Gabriel Rubinstein, one of the officials from the Economy portfolio, explained some of the variables that impacted the April index.

The news of the day that crossed all the areas of discussion of the national situation is the announcement of the April inflationwhich amounted to 8.4% and represents an increase in 108.8% year-on-year. Given the immediate reaction of opposition leaders, who requested from resounding changes in economic policy to legislative discussions and measures by union forces, the first official response appeared: that of Gabriel Rubinstein, head of the Secretariat for Economic Policy.

Through a statement, which specifies that the the “seasonal” segment rose 12.6%, the “regulated” segment 4.9%and the Core CPI (without regulated or seasonal), rose 8.4%the portfolio quoted the word of the official.

“April once again presented extremely high inflation data. As particular aspects, it is worth mentioning increases in seasonal goodssuch as vegetables (20.5%) and clothing (10.8%), both components that had already boosted prices in the previous month,” the document begins.

In that sense, rubinstein explained how the increase in certain sectors of production had an impact, driving the increases throughout the month: “Although some components of the Core CPI showed a significant slowdown compared to the high levels of March, such as beef (2.7% ), other components maintain accelerated dynamicssuch as meat (26.4%), dairy products (11.1%), sugar (10.6%) and bread and cereals (8.5%)”.

In addition, the secretary emphasized how the currency run occurred in mid-April: “We also noticed that the exchange rate unease in the markets of financial dollarin the last part of the month, promoted preventive price hikes in many products and services in our economy.

Finally, and by way of proposition, the text states that “this will require redouble efforts from macroeconomicsin order to specify policies that allow improving fiscal accounts, the reserve accumulation and exchange rate stabilityas well as strengthening the income policy, all in order to achieve better results in the fight against inflation”.


Source: Ambito

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