The Chamber of Industry and Commerce of Meat and Derivatives revealed a 25.1% increase in consumer prices in Greater Buenos Aires during the last month of the year.
The per capita consumption of beef in 2023 would have been 52.9 kilos per inhabitant in the yearwhich would imply a 3.6% annual growthan increase of 1.8 kilos more than in 2022. Likewise, an improvement of 4.4% was recorded compared to the average achieved in 2019 (+2.2 kg/inhabitant/year).
These data were released by the Chamber of Industry and Commerce of Meats and Derivatives of the Argentine Republic, which revealed an increase of 25.1% in the general level of consumer prices in Greater Buenos Aires during the last month of the year.
This dynamic occurred in a context of adjustment, among other variables, of the official exchange rate and liberation of prices in general. In this way, in the last twelve months, on average, consumer prices tripled. In the particular case of the chapter food and non-alcoholic beverages, the increase reached 29.5% between November and December, and the interannual increase was 252.9%.
Meat: a price that was not validated at the counter
In December, the meat processing plants could no longer validate the strong price increases of the standing farm not even to sustain the level of activity and, after the jump in the price of a live kilo observed in the second week of December, the values traded in the Cañuelas market began to decline.
“We must keep in mind that On the other side of the butcher counter is the purchasing capacity of Argentine consumers.the main buyer of Argentine beef in general and even more so due to seasonal issues at the end of the year,” highlights the Chamber report.
Based on everything stated, between December 2021 and December 2023, that is, in the last two years, the price of live animals rose 515.8% and the average price of the main beef cuts increased 517.2%, figures that were not so far from the variation shown by the general level of the CPI (+505.4%) and the average salary of formal workers (+467. 0%).
Purchasing power of salary in meat
Specifically, the purchasing power of the salary in terms of beef decreased only 8.15%. And, likewise, in the period of time considered the value of a substitute such as chicken increased 639.0%, which implies that on average beef cuts became 19.7% cheaper compared to chicken.
All this is what allows us to understand the recovery process of apparent beef consumption which will be seen throughout 2023.
Source: Ambito
