According to the table published by the Secretariat of Economic Policy which is under the wing of the Ministry of EconomyIn the week of September 4 to 10, the price variation was 2.1% and a strong deceleration is observed from the peak of 4.8% that reached in the third week of August.
In that sense, the official stated that the slowdown in inflation that occurred in the first week of September should “accentuate” in the next measurements.
The statement released by the secretariat led by the vice minister of Economy is titled “weekly inflation in decline“and highlights that the weekly price variation was “giving way” after the 20% devaluation of the peso post PASO.
“Although the weekly value is still very high, it is now much more in line with values prior to the devaluation of the month of August,” adds the massive.
August inflation was the highest in the last 32 years
The August inflation accelerated to 12.4% and accumulated 80.2% in the year, as reported this Wednesday by the National Institute of Statistics and Censuses (INDEC). In this way, the increase was the highest since February 1991, when the CPI reached 27%.
The price increase in the last twelve months was 124.4%, the highest since August 1991.
According to the statistical institute report, “the division with the greatest increase in the month was Food and non-alcoholic beverages (15.6%), product of the increase in Meats and derivatives and Vegetables, tubers and legumes. They followed Health (15.3%) –mainly due to increases in medications– and Home equipment and maintenance (14.1%)”.
In the last twelve months, the most significant increase was that of restaurants and hotels with 142.2%, followed by food and beverages with 133.5%, health 127.8%, home equipment and maintenance and recreation 125%, alcoholic beverages and tobacco 123.6%, and clothing 108.9%.
“We estimate that the weekly inflation records will accentuate and consolidate their downward trend in the next measurements“, closes the statement from the secretariat led by Rubinstein.
Source: Ambito
