Sunday , May 26 2019
Home / argentina / IT ACCELERATES | Inflation was 3.8 in February

IT ACCELERATES | Inflation was 3.8 in February



February inflation accelerated again to 3.8 percent per month, yesterday reported Indec. Beef, chicken, fish, soft drinks, dairy products, electricity and public transport were the objects that gave the main value to the national price index, which had its regional peak in the Northeast with 4.5 percent. In particular, food and drink increased by 58.3 percent over the past twelve months and already shows an increase of 9.3 percent over the first two months, which has a direct impact on the deterioration of social conditions. economically and in poverty cuts.

The increase in retail prices last month hit the peak since October 2018, when it had affected 5.4 percent. Then it had a decline to 3.2 percent in November and 2.6 percent in December. With the application of new increases in public services, the seasonal season typical of the summer season and the appearance of new transfers to retail prices of the ongoing cost increases last year, inflation again rose in January to 2.9 percent. one hundred

The increase of 3.8 percent in February puts it twice increased by 6.8 percent, while the increase over the last twelve months reached a staggering 51.3 percent. In March, the inflation floor is 3 per cent due to the continuity of the increases in food and drink and, among other things, new increases, which would leave the first quarter with an accumulated price increase over 10 per cent. As it happened in 2016, 2017 and 2018, no one believes that the official target of 23 percent inflation this year can be met. Private consultants, companies and unions who estimate well over 30 percent by 2019.

The main contribution to inflation in February was the chapter on food and drink, with 5.7 per cent per month. Together with the measurements in October and November 2018, this item showed the highest inflation last month since the beginning of 2016. The result is mainly explained by the meat price. In February, the roast meat rose by 6.7 per cent, minced by 6.6 per cent and the palette by 6.5 per cent. The color was 7.1 and the ham increased, 6.7. They were carefully followed by frozen hamburgers (4.1), sausages (4.4) and whole chicken (3.2). Meanwhile, hake fillets increased 10 percent a month.

The dairy products also had large gains, such as fresh milk in bag (5.5), milk powder (4.3), cream cheese (4.8), pate grass cheese (4.6) and sardine cheese (6.6). In fruit and vegetables, however, there was a more uneven movement in prices. Among the drinks and infusions, Coca-Cola advanced 6.2 percent, the wine was 3.8 percent, coffee increased 4.3 percent and yerba mate 5 percent.

The highest CPI registered in February was housing, water, electricity and gas, by 6.4 percent. This result is explained by the increase between 26 and 32 percent in the electricity bills, which is driven by the increase in the price of wholesale energy that Cammesa distributes. Electricity increased another 14 percent in March. In addition, the price of the social carafe increased in February when the 10 kg container passed to 267.70 pesos. Meanwhile, the chapter on equipment and maintenance of the home increased by 2.8 percent.

The new increase in prepaid fees (5 per cent) together with the increase in drugs increased the health cost by 3.2 per cent a month. With increases in the bus ticket and subway ticket, the object transported 2.2 percent.

The Indec data enables annual price increases in specific products from the base basket. Blood groats increased by 169 percent and dry noodles by 100 percent, which doubled the price, as well as liquid detergents. White rice and sunflower oil rose 75 percent in just one year. On average, food and drink has an annual increase of 58.3 per cent.

The transport record expects an increase of twelve months by 63.6 percent from the removal of subsidies from the national state and the transfer to provinces and municipalities, which led to an increase in increases throughout the country. A year ago, the smallest collective ticket in the Metropolitan Area of ​​Buenos Aires was quoted 8 pesos, with the increase to 18 pesos as of today an annual increase of 125 percent.

The continuity of inflation despite the economic crisis and demand is explained by the steady increase in public services and they are increasing "guilty" last year that companies have not yet moved to retail prices. which is reflected in the difference between retail and wholesale auctions.


Source link