The rise in Food and non-alcoholic beverages slowed compared to last month. What contributed the most to the division was, mainly, the increase in Meat and derivatives and, to a lesser extent, in Bread and cereals. “These increases were partially offset by the drop in Vegetables, tubers and legumes, within which the decrease in tomato prices stood out,” INDEC said.
For its part, the economist Nicolás Pertierra, head of the Scalabrini Ortiz Center for Economic and Social Studies, opined that “the data is better than that of September and October, being below 3% because the regulated ones had, within all, a quiet month. In the other months there were increases, for example health, which had three consecutive months of very strong increases. Now the next few months are going to come back. What is not as good as it could have been is the Meat and Fresh theme. Meats with increases above 10% and dairy varying strongly”.
The Core CPI was around 3.3% and was the one with the highest increase in the month. On the other hand, Seasonal was the one with the lowest rise with 0.5%, this is “largely explained by the aforementioned drop in Vegetables, tubers and legumes”. Meanwhile, the Regulated category registered an increase of 1% in the period but slowed down compared to last month since in October it stood at 1.9%, with increases in electricity, and to a lesser extent than in September, in public transport inside the country.
“It was better than expected. That 2.5% when one looks at the categories, one sees that it was mainly thanks to Seasonal where the sharp decline in vegetables affected, the tomato that has an important weight within what is the vegetables in GBA, fell 33%. Regulated prices grew below the general price level. It was in a context where there were no significant increases that would have had an upward impact, as was the authorization of prepayments at another time, “he explained. Agostina Myronec, Ecolatina analyst.
In dialogue with Ámbito, Guido Lorenzo, director at LCG Consultora, he assured that “it is a still high record considering that it was a month where there was a strong price control. This makes us think of an inflation of around 50% for this year that would accelerate in 2022 with the update of the exchange rate and rates ”.
“The core CPI stood at 3.3% and the strong inertia that remains despite this lower figure can be seen more clearly. The core failed to pierce 3%. Food and non-alcoholic beverages gave 2.1% and may have impacted the price freeze on mass consumption goods added to the fact that vegetables had seasonal drops and caused the chapter to be below the general price level and rise 2, one%. Unlike the meats that showed a marked acceleration in the last weeks of November and continued to rise “, completed the analysis of the month Agostina Myronec.
For his part, Pertierra maintains that in subsequent measurements there will be an increase in the price index. “By December inflation will rise again, we see it in an inertia very close to 3% and when you add to that regulated, as we said, Health, or some seasonal such as Tourism with medium and long distance transport, CNG, joint in buildings and, let’s not talk about rates, it is already very difficult for you to lower than 3%. December is going to be a hot month, we will see how some seasonal ones will measure in the index”.
Myronec coincide: “The projection for December is that the price of Meat will continue to boost the Food and Non-alcoholic Beverages chapter but in a context in which the rest of the mass consumer prices remain frozen. We expect the year to close at around 50% year-on-year in December. “
Source From: Ambito
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