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Wholesale prices rose 6.9% in April (below the CPI)

Wholesale prices rose 6.9% in April (below the CPI)

Wholesale prices accelerated in April to 6.9% and for the second consecutive month they were below retail inflation (8.4%), as reported by INDEC yesterday. While the cost of construction increased by 7.8%.

In this way, in the last twelve months they accumulated an increase of 103.9% year-on-year and in the first four-month period they climbed 28%. Meanwhile, domestic prices rose 6.7% per month, imported prices rose 9.2%, and the cost of electricity increased 7.7%.

“We hope that wholesale prices will continue to sustain the nominal rate of the economy during 2023. Among the factors that will influence an acceleration compared to the previous year are: less supply of imported products as a result of greater restrictions due to fewer exports due to the drought, a scheme of differential exchange rates that affects the internal prices of agricultural products and a rate of devaluation of the official dollar with little margin to fall behind. Finally, due to the high liquidation of cattle heads as a result of the drought in the summer, we do not expect a quick recovery of the supply, which could continue to push meat prices”, they projected from LCG.

For its part, the cost of construction increased by 7.8%, mainly affected by the rise of 7.1% in materials, 7.9% in labor and 10.8% in general expenses. Thus, in the last twelve months the construction price index climbed to 113.4% and in the first four-month period it closed with a rise of 27.3%.

Source: Ambito

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