The food and drinks registered strong increases in the month of August, according to most private consultants. Inflation, according to one of the reports most observed by the central bankstood at 9.4% average in the last 4 weeks.
The LCG consultant calculated in its last report on prices that the fourth week closed with a inflation of 2.3% in this segment, after a third week that was difficult for prices after the devaluation and the rise of parallel dollars amid electoral uncertainty.
“The weekly variation is explained in more than 50% by the meat increase, that it was lagging behind with respect to the rest of the foods”, analyzed the survey.
Inflation: what were the increases that rose the most
Among the increases perceived during the fourth week of August are:
- Bakery products, cereals and pasta: 16.4%
- Vegetables: 12.3%
- Beverages and infusions to consume at home: 9.6%
- Meats: 8.6%
- Condiments and other food products: 7.5%
- Sugar, honey, sweets and cocoa: 7.2%
- Ready-to-go meals: 6.1%
- Dairy products and eggs: 5.4%
- Oils: 5.2%
- Fruits: 3.9%
Inflation: the survey of other consultancies
Private consultants estimate that August will close with a variation of more than 10% in the CPI. Despite the fact that some surveys have registered a slowdown in the prices revised during the past week.
For example, the Supermarket Price Index carried out by the CESO, published this Monday, presented a weekly variation of 2.5%, to accumulate a monthly increase of 9.3%. Thus, in the last seven days the rise in prices slowed down compared to the previous week, when the impact of the devaluation quickly moved to shelves and the indicator climbed 4.7%.
Among the increases, the CESO highlighted the increases in Household Appliances (7.6%), Fresh Food (3.6%) and Home (3.3%). In Fresh Food, Meats (11%), Fruits and Vegetables (7.9%) and Frozen Foods (4.8%) stand out.
“In this fourth week of August, 16.1% of the products registered increases. That value is considerably less than the previous week, in which 44.6% of the products had registered weekly increases”, they detailed from CESO.
With this scenario, general inflation will close August in double digits. “With data up to August 28, the IPC Libertad y Progreso accumulates a rise of 10.6% in the month. In this way, the eighth month of the year would be close to 11%, the highest inflation since the second hyperinflation; even surpassing the rise in prices from the exit of Convertibility”, Eugenio Marí, chief economist of the Libertad y Progreso Foundation, told Ámbito.
“The food item is rising at a weekly rate of almost 4% and accumulated 10% in the month%. This will be reflected in the poverty statistics, which will surely approach 45% towards the end of the third quarter. This gives us the pattern that adjustments in the exchange market without a program and without credibility simply accelerate the nominality of the economy, without solving the underlying problems”, concluded Marí.
Along the same lines, from the C&T consultancy they pointed out to this medium that inflation in August “would be close to 12%”, with a strong incidence of the food item.
Also from EcoGo projected headline inflation at 11.5%with foods that would reach a variation of 12.2%.
Beyond the impact of the devaluation, many regulated prices also increased in August and add pressure to the monthly inflation data. For example, from the CESO they reviewed: “prepaid medicinewith an increase of 8.72%, private schools of the Province of Buenos Aires had an increase of 18% for those who have a subsidy, as of August 1. The public transport services in the Metropolitan Area of Buenos Aires (AMBA) and in the Autonomous City of Buenos Aires (CABA) they had an increase from August 1 of 5.8% for groups. The train ticket ranges from $25.72 to $33.28, depending on the line.
Source: Ambito
