The indicator is based on consumer spending per customer with credit and debit cards and the Digital Wallet DNI Account. The collapse in consumption hit hardest in the southern area of the Conurbano, where the collapse reached 43.4%.
He Banco Provincia de Consumo Index (IBP Consumo)an indicator of consumption spending per customer with Credit cards and debit and the digital wallet DNI Account, registered an abrupt drop of 35% in April in relation to the same month of 2023, the most pronounced in a year.
Purchases in supermarkets and food decreased by 21% between last April and March aloneaccording to the data generated by Banco Provincia, reveals the consumption carried out both in Buenos Aires territory and in the Autonomous City of Buenos Aires.
Consumption by floor: in the Conurbano the impact was more pronounced
In the Buenos Aires Metropolitan Region (RMBU) The drop in consumption reached 38.3% while in the interior of the province it was located in the 30%. Towards inside the RMBUthe biggest collapse in purchases occurred in the Buenos Aires suburbs, upon reaching South Zone a drop of 43.4% while in the Buenos aires city was positioned in the order of 42.3% and in the West zonearrived at 40%.
If the evolution of the index is analyzed between April and March 2024, The most affected item was digital purchases, with a reduction of 55%. However, the most relevant data is the contraction evident in supermarkets and food, which was 21%, showing an acceleration of the decline compared to the previous month. Finally, the 18% decrease in fuels was also significant.
The general price level measured by the INDEC rose almost 110% between December and Aprilwhile the different baskets grew at different rates: Food and non-alcoholic beverages advanced 104.7%; Public services 143.9%; and Private services they did it below the general level (it contains restaurants and hotels, recreation and culture, education, among others).
Consumption on the floor: inflation hit the private sector hardest
He current inflationary process has a greater impact on private consumption than previous price accelerations. The reasons are multiple: contractionary fiscal and exchange rate policies, fall in purchasing power, greater increase in prices of “inelastic” goods regarding those whose consumption can be substituted, such as gastronomy, tourism, culture and recreational outings.
As a result, The deterioration in demand is greater than in other inflationary accelerations, not only for macro reasons, but also for micro reasons: the difficulty of stopping substituting the goods and services that are leading the increases.
He PPI Consumption It has been produced since mid-2020 in the Economic Studies Management of Banco Provincia. The survey includes information on the movements of 1.2 million credit cards and 2.6 million debit cards. In addition, it analyzes the transactions of the more than 9 million users of the digital wallet DNI Account. It is adjusted for inflation according to the INDEC CPI.
Source: Ambito
