Tuesday, December 5, 2023

They estimate that inflation in September reached 11%

Inflation in September was again at a high level and exceeded double digits for the second consecutive month, reaching a monthly increase of 11% and increased by 142.1% year-on-year according to the retail prices survey prepared by C&T.

The data means a decrease in relation to the measurement of the consulting firm in August, which stood at 11.5%, and the official indicator of the National Institute of Statistics and Censuses (INDEC), which rose to 12.4%. At the same time, It exceeded 6.3% in September 2022, taking the interannual change to 142.1%, the highest since August 1991.

In C&T’s analysis it is defined as “the strong monthly change “This was greatly influenced by the drag left in the general increase in prices that occurred in the second half of August, after the jump in post-election exchange rates.”

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In the same way, they show that “On a weekly basis, a moderation was found throughout the month which shows that there is a certain adjustment to the change in exchange rates”, so they consider “this favor in October starting with a low level of inflation.”

The private indicator reveals that “The biggest improvement happened in clothing, a common characteristic of the season due to the change of season” as it shows that “Food and beverage followed, up 13%”. Regarding this matter, the report provides that “there is a noticeable moderation throughout the month, mainly due to the reduction of vegetables and, to a lesser extent, of some meats,” explaining that “even however, the monthly increase continues to be very high. due to carryover from the previous month (eg, 17% in meat and 10% in baked goods).”

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Regarding other sectors, the study details that “education has improved as if less fundamentally due to the improvement of schools, although supplies have increased by 18%,” while “in transport and communication, the higher price of cars and their insurance shows.” “, recalls that “in transport the increase is contained in the freezing of bus fares ordered by Massa as part of the measures of recent weeks.”

On the other hand, the consultancy firm said that “Health moved in the direction of prepaid bills and medicines, with a total increase of almost 9%,” while “in housing, with the continuous increase in rents, the adjustment added salary for building managers and the authorized complementary bonus.”

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INDEC will announce the September CPI on October 12 in what is the last inflation data before the general election on the 22nd of the same month.

Nation World News Desk
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