Due to seasonal factors, the restaurant and hotel sector was the one that rose the most. In vegetables, onions, with 57%, and potatoes, with 28% increase, were in the lead. Some resistance to the decline appears.
If there is one element that may generate some concern in the economic team regarding the disinflation process, is that the core measurementwhich is the one that clears the seasonal components, rose in July after six consecutive falls. Last month the indicator was located at 3.8% while the general CPI climbed to 4%. Core inflation had been January 20.2%; February 12.3%; March 9.4%; April 6.3%; May 3.7% and June also 3.7%.
Even if the increase between June and July is only one tenth, Core inflation is a wake-up call for Economy Minister Luis Caputowho hopes to align this index with the 2% devaluation of the currency, as a requirement to gradually get out of the exchange rate trap.
Beyond that element, the consultancy C&T which is run by the economist Camilo Tiscornia highlights that the seasonal components of the index increased by 5.1%. “In this line, the heading restaurants and hotels, influenced by the peak of winter holidaysshowed the largest increase nationwide (6.5%), with a peak of 10.5% in Cuyo,” the company says in a comment.
On the other hand, it is noted that “there were increases in fruits and vegetables, due to low temperatures, which reached 8.5% and 9.7%, respectively, in the GBA region.”
The regulated components of the CPI rose by 4.3%. “In this case, it was highlighted the increase of about 12% in cigaretteswhich caused the alcoholic beverages and tobacco sector to climb 6.1%, says C&T. The consultancy firm specifies that This item was the second highest in the month followed by housing, with 6%, driven, in part, by the adjustment in water supply.
Health, with a 5.8% was the sector that followed due to the increase in prepaid feess with an increase of almost 7%. The other item that rose above the average was recreation and culture (5.7%), also affected by the seasonal peak of the winter holidays.
Which products increased the most?
- Onion 57.1%
- Potato 28.8%
- Banana 24.5%
- Lettuce 21.8%
- Sweet potato 14.6%
- Sweet biscuits 7.3%
- Fresh hake fillet, 4.5%
Which products went down?
- Orange 7.9%
- Lemon 4.5%
- Fresh milk in sachet, 3.7%
- White rice 1.5%
- Sugar 0.8% Vienna sausage 0.2%
- Disposable diapers 0.2%
So far this year, and With an accumulated inflation of 87%, seasonal products and goods increased by 81.5%, regulated goods by 151.4%, while the “core inflation” that does not reach either of the other two ratings, 75.2%.
Source: Ambito
