Given a very high inflationary context (the latest CPI indicated that in the first six months the index accumulated a rise of 50.7% so far this year), there are few options to efficiently hedge against rising prices.
He Consumer Price Index (CPI) accumulated so far this year 50.7%, while in the last 12 months, it reached 115.6%. For an investment to have “beat” the rise in prices, that should be the minimum level of profitability. Let’s go step by step.
The blue dollar closed the year at $346 and on June 30 it ended the day at $494, which implies a nominal rise of $148, a rise of 42.8%, thus remaining below the rise in prices.
Let’s look at the traditional fixed term. At the beginning of the year, the annual nominal rate was 75% (6.25% monthly), and in April it rose to 78% annual (6.5% monthly), in May it rose to 91% annual (7.6 % monthly) and finally in June 97% annually (8.1% monthly).
If we take into account the TEA (annual effective rate) which would be to reinvest capital and interest every month with the last value (97% per year) we would have had a gain in the semester of almost 60%. But this was not possible since at the beginning of the year the value of the TNA was 75%.
Now, if every month I took the capital and interest and made a fixed term for 30 days with the current rates of the BCRA, the TEA for six months was located at 47.75% and was also below inflation.
Investments that beat inflation
Regarding equities, the S&P Merval in the first semester rose 106% versus inflation of 50.7%. Some papers registered strong increases such as: Edenor +167%, Pampa Energía +94.52%, and YPF +132%.
Source: Ambito
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