Within a few days, the INDEC (National Institute of Statistics and Censuses) will reveal the official figure of the inflation July that, according to the Government, “is going to be bad.”
This, given the recent changes in the government cabinet that have generated great economic uncertainty in the markets, added to the permanent increases in businesses, for which it is anticipated that overall index will reach 8%, with which the annual accumulated inflation could be above 90%.
In this sense, the inflation will also be impacted by increases in food prices that during July they have had a rise of 7.4%since on average the products increased weekly more than 1%.
Even half of the categories had increases above 2% weekly, according to the survey of the consulting firm LCG. Among the products with the highest increases are dairy products and baked goods with increases of 2.4% and 2.1%, respectively.
Followed by fruits with 3.8% and vegetables with 3%, the same figure that marked the category of condiments. On the other hand, oils increased 0.5%; beverages and infusions to consume at home 0.4%; ready-to-go meals 0.3%; meats -0.3%; and sugar, honey, sweets and cocoa: -0.8%.
However, the average increases for the categories of dairy products, baked goods and vegetables, during the last four weeks remained above 7%; well baked goods increased 9.6%, vegetables 9% and dairy products 8.8%.
The most worrying thing is that given the constant variations of the dollar and the restrictions to import, it is expected that during the following months the prices will continue to shoot up.
what to expect in august
Amid the uncertainty in the markets and the instability of the Government, which plans to announce new economic measures next week, after its drastic change in the cabinet, it is anticipated that the price index August continue with high values.
This, given the recent increases of 40% for the public transport rate, in addition to the increases that energy and gas tickets will have with the new rate segmentation.
