2023-11-24 23:16:00
After the presidential runoff, food inflation registered an acceleration of 2.7 percentage points in the third week of November, showing an increase in 4,3% compared to the previous week, according to an LCG report.
The acceleration in food prices occurs after the victory of libertarian Javier Milei in the second round of elections last Sunday.
According to the consultancy, the increase in food prices averages 10% in the last 4 weeks and 11.8% end to end in the same period. Thus, so far this month it has accumulated a 8.1% inflation.
By categories, LCG registered an increase of 1,5% in the price of meat, while for fruits and vegetables the increases were 0,7% y 1,9%, respectively. In the case of drinks and infusions, the increase was 5,9%.
The increases in ready-to-go meals (9.5%) and in dairy products and eggs (7.3%) stood out.
For its part, the Secretariat of Economic Policy estimated that the increases in the third week of the month were the following: Fruits (7.4%) and Vegetables (12%), Food and Beverages (2.3%), Meats (2 .1%), Clothing (1.6%) and Regulated (0.3%).
How much was the first weekly inflation after Milei’s triumph?
Thus, the government recorded weekly inflation of 2,3%.
The increase in food before the ballot
According to a report by the consulting firm EcoGo, food prices had risen only 1% in the week ending November 17, prior to the runoff.
Meanwhile, in the second week of the month LCG had registered an increase of 1.6%, which represented a slowdown compared to the previous week.
According to EcoGo, considering an average weekly variation projection of around 3% for the next two weeks of the month, Inflation of food consumed at home in November would rise to 13.1% monthly.
If the evolution of food consumed outside the home (14.7%) is also considered, food inflation would reach 13,3%.
Carnes
The meats recorded a 0.7% drop driven by the decline in beef (-0.5%), chicken (-1.8%) and fish (-2%). The pig, on the other hand, continues to rise, marking a 4% weekly increase.
It should be noted that meats that were down this week have been showing strong increases, particularly in the first week of the month where they were around 6%.
Fruits and vegetables
“Fruits were on the rise this week, showing an increase in 4,1%, driven by the ‘Other fruits’ category, which marked an increase of 7.5%. Vegetables, for their part, experienced a rise in 4,5%highlighting the potato
(7.0%) and ‘other fresh and frozen vegetables’ (4.7%),” EcoGo detailed.
Javier Milei: “Lowering inflation to international levels will take between 18 and 24 months”
Drinks and infusions
The beverages and infusions category registered an increase of 1,6% in the third week of the month, highlighting the increases in alcoholic beverages (4.9%) and carbonated beverages (4.5%). So far this year, the category has accumulated an increase of 158.5%, placing it slightly above average prices.
On average, in November food prices accumulate an increase of 10.4% monthly. It must be considered that this data incorporates the carryover from October (3.8%).
LD / Give
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