For the first time, after several months, the use of plastic has real growth above inflationary dynamics, according to a private report.
In April, the use of credit cards for purchases in pesos totaled $7,214,875 million, which means a nominal increase of 10.6% compared to the end of last month, and above the expected inflation values for this period.
This is the first time, after several months, that the use of plastic has real growth above inflationary dynamics, according to a report by First Capital Group.
However, the document maintains that the year-on-year growth, reached 176.8%, remaining below the estimated inflation levels for the year, consequently showing a decrease in real terms.
Credit cards: what is the reason for the dynamic
“After several months below the month’s inflation, real growth is observed in the portfolio financed with plastics during the month of April. The lowering of rates that has been operating in recent months in both the program “Simple Fee“As in the rest of the financing and the appearance of interest-free installment offers on some items, they are recovering this consumer sector,” he maintains. Guillermo BarberoPartner at First Capital Group.
Credit cards
Mariano Fuchila
“However, some speculative buyers, They may be delaying their consumption while waiting for new drops in interest and in the nominal prices of the items,” says Barbero.
Purchases with credit cards in dollars registered a year-on-year increase of 87.1%, although with an irregular monthly behavior alternating ups and downs. In April there was an increase of 21.7% compared to the previous month. The total balance amounted to US$ 421 million.
“The possibility of canceling consumption in dollars with foreign currency avoids the use of the exchange rate applicable to the card, facilitating the use of plastic for users,” concludes Barbero.
Source: Ambito
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