In Aprilhe Consumer indicator of the Argentine Chamber of Commerce and Services (CAC) grew 0.8% Monthly, after scoring a decrease of 1.1% in March. As for the year -on -year growth, recorded an increase of 4.5%. According to the entity, April inflation moderation meant a relief for consumers, although it remained at a relatively high value.
“So far from 2025, every month they show year -on -year rises, highlighting especially Aprilwhich had the highest variation rate. In addition to this, the dissemination index returned intermennsual growth, marking an advance for the fourth month of the year, “they said from the CAC.
This happened in an economic scenario in which Inflation slowed down in April When located at 2.8%, with an interannual of 47.3%and an annual accumulated of 11.6%.
“The wholesale exchange rate did not experience sustained growth in the first five weeks of the new monetary exchange scheme, while maintaining a relatively low volatility. Although at first the interest rates suffered a bullish rally, they returned to levels prior to change in politics,” they said.
In short, they stressed that Macroeconomic conditions did not significantly compromise the consumption recomposition processboth for durable and for the rest of the goods and services.
For the cac, The performance of the Argentine economy and consumption has similar behavior, which is expressed in interannual variation rates That, usually increase or reduce in the same line. In much of the 2024, the interannual variations of both the IC and the EMAE presented a negative behavior.
In March 2025, The EMAE registered an interannual advance of 5.6%, and marked the fourth consecutive advance. “This increase in the activity indicator was aligned with what happened with the IC during the same month, where the experienced year -old variations showed a positive value in the first three months of the year. In both series, the low comparison base contributes to the positive performance of the indicators,”
When analyzing the performance of some areas in particular, from the entity it was observed A generalized year -on -year dynamic with respect to the values of April 2024, taking into account the low point of comparison.
Item for item: how did each one go in April
The item of clothing and footwear It showed in the fourth month of the year a growth of 7% year -on -year, with a positive contribution of 0.4% to the progress of 4.5% interannual of the IC. The value was mainly explained by “The low level of comparison in the same month of 2024. The item is still 22% below the prepaandemics levels.”
On the other hand, Transportation and vehicles showed a 6.6% year -on -year growth In April, and contributed positively 0.9% to the interannual variation of the IC. The item was traced by the advancement of car’s patenting, which threw an interannual variation of 68%.
Recreation and culture in April a 27.2% growth showed (With a positive contribution of 1.5 percentage points (pp) to IC). The great advance is based on a very low comparison base: the index in April 2024 had suffered an year -on -year contraction of 36%, leaving a very low value for that month.
Regarding the section of Housing, Rentals and Public Servicesthis showed a decrease of 0.6% in April. The contraction was mainly explained by a drop in electrical demand, due to an average temperature greater than last year.
With respect to rest of the items, these experienced an estimated advance of 3.1% in April (and an incidence of 1.8 pp), positioning at 1.8% levels above prepaymia levels.
In April, the Mass consumer goods (FMCG or Fast-Moving Consumer Goods, that is, high-rotation and very short useful goods) returned to the positive land in their interannual variations, marking an advance of 0.1%.
In line with this, “It is projected that mass consumption rebounds during this year and recover part of the lost terrain, by the hand of the deflationary process.”
From the CAC, they also explained that the credit in real terms “managed to grow sustainly during all the remaining months of the year and continued the process at the beginning of 2025”. While there was a slight deceleration in its growth month by month, The credit continues shows a positive slope and points to the still distant historical maximums.
The debt on credit cards and personal and pledgee credits managed to exceed April 2023, enabling the consumption of appliances and cars. “Automobile patenting continues to mark significant year -on -year growth, pushed, mainly for the purchase of imported,” they detailed.
As for the Mortgage credit It also continues “an recomposition process that translates into greater deed, although it still lacks a lot of land to go.” In parallel, The increase in rates in all credit lines after the stock exit was transitory and already returned to the previous levels.
In short, they stressed that “mass consumption continues its recovery process, while The consumption of durable goods would cross a moderation, but it would maintain a positive slope. However, the change in the structure of household consumption persists, oriented more to durable goods provided by credit than daily consumer goods. “
Source: Ambito
