Friday, December 1, 2023

Weekly inflation was 2.2 percent | “Greater strength was recorded in food and regulated goods and services”

The usual report from the Secretariat of Economic Policy showed that last week’s inflation was 2.2 percent, slightly lower than the 2.4 percent recorded at the beginning of the month and with relative stability in food, beverages and regulated goods.

The study conducted by the Palacio de Hacienda between the 6th and the 12th of this month averages a monthly increase of about 9 percent, and although this percentage is higher than the inflation of the previous month, the numbers show that the trend is downward.

In addition, the weekly survey highlights above-average increases in warehouse foods and beverages (3.4 percent), fruit (3.3), meat (2.8) and regulated prices (2.9).

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On the other hand, clothing (1.4 percent) and vegetables (2.1) rose below average. The area in charge of Gabriel Rubinstein pointed out that “the weekly growth of 2.2 percent may be slightly lower than the previous figure (2.4)” because the “greater stability was recorded in food and regulated goods and services.” .

However, it was clarified that “these items show average weekly differences that are greater than the general level due to the statistical bearing of the effect of the increases that occurred in the first days of the month.”

The report clarifies that “in October the main differences in Indec occurred in clothes and vegetables, whose prices are not much different than those obtained in the measurement of the Economy. Consequently, the differences of the previous weeks have been adjusted.

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The organization in charge of statistics determined that inflation in October was 8.4 percent, below what was projected by private consultants and also what was calculated by the Economy.

Nation World News Desk
Nation World News Desk
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