2024-03-07 15:32:00
The inflation in the City of Buenos Aires was 14.1% in February. In this way, the accumulated price increase so far in 2024 reached 38,9%while the interannual variation was around 264,5%.
This was reported by the General Directorate of Statistics and Censuses with the publication of the Consumer Price Index (CPI) for the second month of this year.
Despite being a high number, considering that it is the variation for a specific month, the Buenos Aires index registered a drop of more than 7 percentage points compared to its predecessor, 21.7%.
According to the agency, ‘Food and non-alcoholic beverages‘Transport’, ‘Housing, water, electricity, gas and other fuels’, ‘Health’ and ‘Information and communication’ were the items with the most incidence, explaining 72.2% of the increase of the general level.
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For its part, with respect to the sectors that increased the most, it stands out, with a wide difference, ‘Insurance and financial services’, with 30% increases, more than 1 percentage point per dayconsidering the 29 days of February.
For its part, ‘Alcoholic beverages and tobacco’ rose 21.3%followed by ‘Health’ and ‘Transportation’, both with 21% increases. They were also above the general level ‘Information and communication’with a raise of the 19,4%, ‘Food and non-alcoholic beverages’with a 14,7%y ‘Personal care, social protection and other products’with a 14,3%.
This information was revealed in the prelude to the dissemination of the national inflation figures corresponding to the second month of the yearby the National Institute of Statistics and Censuses (INDEC), that according to projections made by private consultants would be around 15%a figure similar to the one that, this March 7, marked the IPCBA.
Cavallo said that the private sector has to collaborate with the Government to lower inflation: “There were exaggerated increases”
Inflation of 15.5% in February and 210.2% by 2024: the projections released by the BCRA
And in the run-up to the publication of the February data, the analysts consulted by the Central Bank of the Argentine Republic (BCRA) they predicted an increase in the cost of living of 15.8% in the second month of 2024 and an acceleration of 210.2% for the entire year.
This follows from the last Market Expectation Survey (REM) carried out by the BCRA on a monthly basis. Regarding the estimate of the Consumer Price Index (CPI) for February, the survey participants They revised their forecasts downward by 2.2 percentage points. Meanwhile, they modified the annual estimates with a decrease of 16.9 points from 227% from the previous survey.
Regarding the behavior of prices for the next quarter, They projected 14.3% for March, 12% for April and 10% for May. According to the calculations of the surveyed consulting firms, the CPI would return to single-digit territory from June: 8.5%. At the same time, they conceived an increase in 7.8% in July and of 7% in August.
The predictions of the specialists are in tune with the government’s diagnosis of Javier Miley. Both the president and the Minister of Economy, Luis Caputo, They anticipated that inflation for the second month of the year would have closed at around 15%.
“When it gave 25% in December it was a successbecause the truth is that prices fell in the second week. This month it seems that inflation will be at 15%“, assured the president during his presentation in Expoagro.
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