Food inflation increased by 94.7% in 2024, below the general price level that closed at 117.8%.
The Food experienced inflation of 94.7% in 2024that is, 23% less than general inflation. The products with biggest year-on-year increases were the lemon, milk and cheese. On the contrary, among those that registered the smallest variations are sugar, orange and rice.
This emerges from a report by Coninagro based on the Consumer Price Index (CPI). Food rose 2.2% in December, also less than inflation for that month (2.7%).
Analyst expectations for January
According C&T Consultants“the data from the price survey for the first half of January show a moderation of the rate of increase, so inflation for the month would be less than 2.5%.”
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According Labor Capital and Growth (LCG)January presents smaller increases in Regulated, but higher in seasonal. Assuming a deceleration of the core to previous levels (2.7%), they project inflation around 2.5% for the entire month, “a figure that we take as a floor.” From the analysis, the reduction of the “crawl” can be a tool for coordinating price expectations. However, he warns that it could lose effectiveness if uncertainty about the dollar continues.
On the other hand, analysts Adcap Financial Group They corrected the January inflation forecast to 2.4% (from 2.3%) while stating that “price dispersion remains high” and that puts pressure on the core. “This estimate is below the median reported in the latest survey of professional economists carried out by the Central Bank. In addition, we maintain our 2025 projection at 25%.”
Also, since S.B.S. They contributed that the data from high frequency of January show that core inflation is still mainly affected by regulated inflation. “We remember that, in January, there were some increases in public services such as water, electricity and gas and that, at the same time, there were increases in fuel and some prepaid bills.” Furthermore, they contribute that the reduction of PAIS Tax rate, could help the deceleration, with the effect that it could continue to spread in February.
Source: Ambito
