The first week of management Javier Milei was marked by a strong remarking on the prices of different productswhich intensified after the devaluation announced by the Minister of Economy, Luis Caputo. In this way, consultants project inflation above 20% for December.
In this stage, Ambit conducted a survey in an important chain of supermarkets in which he compared the prices of 35 mass consumption products (food, drinks, cleaning and personal hygiene) between Sunday, December 10, the day of the president’s inauguration, and Sunday, the 17th.
When comparing the total value of the basket, an increase of 16% was observed in just one week. Although inside you can see different speeds in the increases, in which the increases in the meat, bread and oilamong others.
In any case, it is also worth noting that eleven articles did not show any variation in the last week (at least, in the products and brands surveyed), which include the cream cheese, cream cheese, grass, onion, tomato and potato. The same thing happened with toothpaste.
The rest presented increases that ranged between 11 and 113%. The soda top brand cola was the one that led the increases, an increase that may be related to the end of Fair Prices and the adjustments of many of the items that made up the program.
Other products that increased the most were table breadwith a 35%; Oil sunflower, 25.7%; Mayonnaise, 25%. Refering to meat vaccine, the roast lid, vacuum and roast, rose 15%; while the entrails climbed 27.7%. He chicken whole rose eleven% and the pork shoulder boneless, fifty%.
Among vegetables, the pumpkin Anco is the one that rose the most: 33.4%. Regarding the articles of personal hygiene and cleaning, shampoo rose 32%, as well as detergent, liquid laundry soap and kitchen rolls. Toilet paper increased 30%.
Inflation: projection for December
The jump in prices in recent days was also reported by different private consulting firms, which estimate inflation above 20% for December.
For example, according to the survey carried out by the consulting firm LCG, In the second week of December, food prices rose 6.1%, slowing down compared to the previous week (they had risen 7.4%). So far this month, the indicator has accumulated an increase of 13.9%.
“Forward, We understand that November inflation (12.8%) should be taken as a new floor. In principle, the increase in regulated prices and other frozen prices will be added. Fuels with adjustments at the beginning of 30% and then 40% seem to be the case to highlight, not only because of the amount of the correction, but also because of the impact that it will have on the formation of other prices in the economy,” they noted from the signature.
And they added: “Then there is the effect of the elimination of subsidies on energy and transportation rates and the foreseeable adjustment of tradable goods due to the devaluation of the official dollar and the increase in the country tax on imports. It will depend on the government’s expertise to anchor expectations so that this does not lead to a jump in the inflation rate.”.
For its part, the CPI for the GBA, which Ecolatina measures, accelerated in the first half of December, registering an increase of 18.1% compared to the same period in November. “For the second fortnight we expect the acceleration to deepen, mainly marked by the transfer to prices of the discrete jump of 118% in the official exchange rate and various price adjustments derived from the dismantling of the Fair Prices programsuch as mass consumption and fuel, added to significant increases in beef,” they projected.
Meanwhile, the CPI of the Libertad y Progreso Foundation accumulated a rise of 19% in the first two weeks of the month, “and aims to close around 25% monthlydepending on how prices evolve in the second half of the month.”
Source: Ambito
