Monday, October 2, 2023

Inflation in the city of Buenos Aires was 10.8% in August, the highest level on record

The General Directorate of Statistics and Censuses of the City of Buenos Aires released theirs this Thursday Consumer Price Index (IPCBA) report for August. Monthly inflation was 10.8%, up more than 3 points compared to July, that was 7.3%. This results in an annual fluctuation of 79.8%, while the inter-annual development was 127.3%. It is the highest since the agency measured it in 2012.

The variation of the IPCBA basically responded to the increases in the items Housing, water, electricity and gas, food and non-alcoholic beverages, restaurants and hotels, health and transport which together accounted for 69.8% of the increase.

The post housing, water, electricity and gas suffered Increase in water and rental prices for private households resulting in an increase of 13.8% (163.2% annual variation).

Food and non-alcoholic beverages recorded an average increase of 12.5%, with a strong increase in meat and derivatives (19.2%)., followed by bread and cereals (10.4%), vegetables, tubers and legumes (15.9%) and milk, dairy products and eggs (7.7%). This item saw a year-to-year variation of 130.3%.

Restaurants and hotels, on the other hand an average increase of 8.3% (144% YoY) after the prices of food prepared in restaurants, bars and grocery stores have increased.

Health increased by 10.8% due to Adjustments to Prepaid Drug Fees and in the values ​​of medicines with an annual variation of 103.7%.

Transport recorded a 9.2% increase Price increases for cars and fuel and lubricants for vehicles for home use. This item saw a year-to-year variation of 109.8%.

Nation World News Desk
Nation World News Desk
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