The National Institute of Statistics and Censuses (INDEC) reported that inflation during January was 6% and that it reached 98.8% YoY in a month that was characterized by the increase in prices such as meat, fuel and services at the beginning of the year.
The items that had the greatest incidence in the general number were “Recreation and culture”, which rose by 9%, “Housing and services”, which grew by 8% and communication, which grew by a similar percentage, according to the official report.
In the food and beverage section, the rise in January was 6.8%, again above the average level of 6%.
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As reported the consultants and the main chambers, the main cuts of meat rose 20% during Januarywhile food, according to the EcoGo consultancy, had a variation of 2.8% in the first week of this month and assured that “it is the highest weekly variation since last March”, which will also push the index up for February .
From LCG, another of the consultants that measure prices, they indicated that fruit (4.1%) and meat (3.6%) once again led the rises. While, for said study, the food item in all concepts experienced a rise of 6% that also impacted the final number given by INDEC.
In order for the three-figure limit to be exceeded, during February the INDEC must register a price increase of 5.5% and thus it will be above this fateful figure (100%) that has repercussions in all areas of the Argentine economy, but above all in the loss of purchasing power.
Source: The Chronicler)
