With annual inflation at 8.53%, the figures that March left for consumers in terms of prices were not the best. However, although the indicator that the market reviews in general focuses on how much the Consumer Price Index (CPI) has varied in relation to last year, the latest figures also showed another worrying fact: only during the first quarter of 2020 prices rose 4.36%.
(Inflation is set to be a lasting ‘headache’).
For the period between January and March 2022, the category of food and non-alcoholic beverages continued to drive inflation, and had the highest variation, with an increase of 10.22% in prices during the first quarter of the year. The dad, which accumulates the highest inflation in the last year (110.2%), was also the item that rose the most in the first quarter, not only within the group, but in general among all the goods in the basket. The tuber saw an increase in its prices of 54.6% in the first three months of the year.
Behind the potato are also other foods among the highest increases so far this year. Among these are the onionwith an increase of 44.45% in that period, the yuccawith 38.31%, the bananas (34.32%), tomato (30.20%), oranges (29.88%), blackberries (26.73%) and fresh fruits (17.21%).
(Inflation begins to slow down local business sales).
TOILET PRODUCTS
Within the 12 spending groups that Dane classifies, after food, it is the category of goods and services for the ordinary maintenance of the home that presented the greatest increase in prices in the first three months of the year 2022, with a variation of 7.54%.
“Cleaning products are exerting inflationary pressure fundamentally based on costs, because the costs of chemical products for the production of detergent, bar soap, powder soap, and dishwashing soap are having cost increases that are transmitting to home users”, explained the director of Dane, Juan Daniel Oviedo, in the last inflation presentation by the statistical entity.
Hence, among the subcategories of the basic consumer basket, others that stand out for their inflation in the first quarter are cleaning and maintenance products, which rose by 15.38% in the first quarter of the year, or items cleaning products, which rose 8.63% in shops.
OTHER PRODUCTS
Most of the goods and services in different categories have had significant increases. On the side of spirits, while liquor rose 1.39% in the first quarter, spirits such as whiskey, rum, brandy, vodka, gin, cognac, tequila, liquor creams and appetizers have risen 3.1% and beers 3.1%.
within the clothing, those of men have risen by 3.14%, those of women 1.89% while those of babies rose 4.38% in the first quarter and those of boys and girls 3.49%. The element that increased the most in price in this group was uniforms, with 6.83%. Women’s footwear rose 4.18% in the period.
Within public services, the water supply increased by 2.63% between January and March, garbage collection by 4.33%, sewage by 4.89%, electricity by 6.09% and gas by 1.46 %. In the case of transportation, some elements such as motorcycles and bicycles registered increases in their prices of 5.08% during the first quarter, while tires and wheels for vehicles have risen 6.04%. Tolls increased 6.9% between January and March.
stationery such as notebooks, agendas and paper increased by 8.15% and within the education category, some enrollments such as preschool and basic primary education rose 4.98% in the first three months of 2022, and secondary education rose 4.71 %.
WHAT COMES DOWN
Although most products have been rising, a small group, on the contrary, registered reductions in their prices in the first quarter.
Oviedo explained that, in the quarter, the only negative inflation corresponds, by category, to information and communications“where in addition to our own competition that has begun over the past few months in the mobile telephony and internet sector, we have a very important impact of the day without VAT in the month of March in terms of mobile telephony equipment” .
LAURA LUCIA BECERRA ELEJALDE
BRIEFCASE
