2023-05-12 19:01:00
The National Institute of Statistics and Censuses (INDEC) released inflation for the month of April. The variation of the Consumer Price Index (IPC-Cost of Living) for the fourth month of the year finally confirmed what was expected:
During the year, the CPI accumulated a variation of 32.0%. In the year-on-year comparison, the increase reached 108.8%.
In February the CPI had closed with an increase of 6.6%on the first step of a ladder that is getting steeper every time.
The INDEC report this month was not without controversy, since the head of the organization, Marcos Lavagna, decided to postpone the publication of the Cost of Living until Monday, May 15, arguing that it might influence the elections that are going to be held this Sunday in several provinces. Criticism of this measure ended up taking the report back to its original day, which is today, Friday, May 12.
Inflation projections for April
Las consultants from the financial market estimated that the CPI rose to 7.5% in April, according to the Survey of Market Expectations carried out by the Central Bank (BCRA).
Meanwhile, inflation in the city of Buenos Aires was 7.8% in April, with an accumulated increase of 31.2% in the first four-month period and 110.4% in the year-on-year measurementl, as reported last Monday by the Buenos Aires General Directorate of Statistics and Censuses (Dgeyc)
He food and non-alcoholic beverages category -with a greater weight in the Ipcbal- led the increases last month in the district, with an increase of 10.4% compared to March, followed by clothing and footwear (9.4%) and household equipment and maintenance ( 9.3%).
The UBA added concern
He Wednesday a report from the University of Buenos Aires added concern in the prior to the CPI report by INDEC.
The projection on the annual increase in food might reach 197%warned from the RA Center of the Faculty of Economic Sciences of the UBA.
The report details that projecting the current increases in the Food and beverages category, almost 200% per year might be reached between now and next year (March23-March24).
“Is problem It afflicts, above all, low-income households, who do not have the means to protect themselves from price increases, given who spend most of their income on subsistence.they indicated
«It is worth clarifying that annual inflation narrates the behavior of prices during the last 12 months. However, the general rate of inflation a year ago is far from being similar to the current one (5% average monthly in the first quarter of 2022 vs. 7% for the same period of 2023)”, explained the Center of Studies for the Argentine Recovery.
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