A good precedent for this deceleration of prices was provided on Friday by the Buenos Aires Statistics Office, which recorded a retail inflation of 4.2% in August, almost one point below the 5.1% of July. The measurement of the City of Buenos Aires places greater emphasis on services than the one carried out by Indec at the national level.
In the Buenos Aires measurement, goods had an average increase of 3.1%, while services increased by 4.9%.
In the CIn the city, the increase in the index was driven by increases in transportation and utility fares, while the “Health” and “Food and beverage” categories had increases below the average.
Food products increased by 3.1%, driven by meat and derivatives (5.3%), bread and cereals (4.1%) and milk, dairy products and eggs (3.7%).
In the year-on-year measurement, prices rose by 243.1%, while in the accumulated eight months of 2024 the variation is 106.8%.
Meanwhile, private consulting firms estimated that inflation at the national level in August was 3.9%, just one tenth below that of July, while the forecast for September will be around 3.5%, according to the Market Expectations Survey (REM) conducted by the Central Bank.
Statements by Pablo Quirno, Secretary of Finance
From the Ministry of Economy, the Secretary of Finance, Pablo Quirnohe said: “We cleaned up the Central Bank, the fiscal numbers, the commercial debt, and all this leads to a very rapid reduction in inflation, and we are destined for it to continue.”
Quirno, in statements during a seminar organized by the Argentine Chamber of Life and Retirement Insurers (AVIRA), questioned the differences in perception by warning that ““Analysts’ inflation expectations were 50 points off reality in the first 6 months.”
INDEC: changes are coming to the measurement of the CPI
For his part, the head of Indec, Marco Lavagna, He confirmed that a new method for measuring inflation will begin to be applied in two months, which, among its most important change, will expand the number of products to be measured.
“We are in the final stages of testing. We have to be very careful about when we make changes so that this is clearly understood,” Lavagna said on the radio.
Source: Ambito
