Untied prices: February inflation would exceed 6%

Inflation in February would be above 6% registered in the previous month, according to the calculations of market consultants. If the projections are confirmed, it would be the third consecutive monthly rise.

The National Institute of Statistics and Censuses (INDEC) has scheduled for March 14 report the Consumer Price Index for the second month of the year.

According to Ecolatina, inflation in Greater Buenos Aires increased 6.6% per month in February (+105.5% year-on-year), “consolidating the rebound registered in January and accumulating a rise of 13.4% for the year”.

For the consultant, the rise was mainly driven by the strong increase in the chapter of Food and beverages (+10.6%), which explained 57% of the general level. In the second month of 2023, lhe beef prices increased 25.8% compared to the previous month.

Inflation through the roof: how much does a typical family need per day to live in the city of Buenos Aires?

“The increases in Fruits (+17.9%) and Vegetables (+10.4%) are also noteworthy, which remain at high levels as a result of a lower supply due to the drought,” the report indicates.

For his part, EcoGo agrees that February inflation increased by 6.6%. The measurement, which excludes regulated and seasonal items, thus reaches an interannual increase of 99.2%, slightly lower than the average of prices.

“In the month there were increases in fuelsand telephony and internet, and prepaid among others, which determine a 5.2% monthly increase in the category”.

Meat price and fees

Consumers the basic food basket increased 11.84% according to the survey in supermarkets and neighborhood businesses in the City of Buenos Aires, the price of the 21 products. Since January the accumulated is 19.92%.

In that relevance, cuts of meat increased by 17.99%, while fruits and vegetables did so by 10.29% and warehouse products increased by 4.81%.

The director of Focus Market, Damián Di Pace stated that “the average increase in the beef category blew up the food category due to its level of incidence in the food basket of Argentines despite still being below year-on-year inflation”.

In this way, the director of the private consultancy specified that “in the month of February the correction of regulated prices added heat to the price variation with increases in prepaid, mobile telephony, cable services, electricity rates, domestic service and fuel. In turn, in the case of Food and Beverages the variation was 7.2% and in Hygiene and Cleaning 8% with a general average price level of 6.1% for the second month of the year”.

For her part, María Castiglione, from C&T Consultores, predicted 6.2% for February and 6.9% for March. “Official inflation would give 20.3% for the first quarter of the year,” he said.

BM / DE