Tourism during the last month of the year boosted prices in several items, such as transportation or hotel services. In addition, it explained most of the monthly jump in Seasonal Prices, which went from increasing 0.5% to 3.7%.
In the case of food, the division with the highest incidence in the Consumer Price Index (CPI) of the INDEC, were the increases in meats, which mainly drove the rise.
The private sector had estimated inflation of 3.4% for December, according to the latest Survey of Market Expectations (REM) carried out by the Central Bank (BCRA).
It is worth remembering that between October and November, the Ministry of Domestic Trade determined the freezing of drug prices and almost 1,500 mass consumption products until January 7. This contributed to the slowdown in inflation in November (2.5%), but seems to have had a minor effect on the dynamics of the last month of the year.
Before the end of the freeze, the Government formally launched the new Care Prices program, made up of 1,321 products, among which items of necessity stand out, such as 45 varieties of milk, 22 presentations of herbs, 6 baked goods, 24 types and sizes of disposable diapers and 33 varieties of dry pasta packages.
Within the framework of negotiations with the International Monetary Fund (IMF), Economy Minister Martín Guzmán assured that there is consensus between the Government and the organization on the need to combat inflation from various approaches. In this sense, the official stressed the importance of price agreements to coordinate expectations, which should be complemented with a lower weight of the monetary issue in financing the fiscal deficit and an inflow of foreign currency that allows the exchange rate to be controlled.
Source From: Ambito
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