The firm Raddar reported that household spending increased 8.8% in May, which means $73.8 billion.
(See: Facts that keep food prices near their record).
In this way, the accumulated of the first five months reaches $362.6 billion. The celebration of Mother’s Day and the improvement in unemployment have been some favorable factors.
The analysis also states that the growth of spending compared to the same month of the previous year is mainly leveraged by high-income households, these being the ones with the highest purchasing power.
For their part, those with medium and low incomes may be contributing to spending to a greater extent through credit and the slight recovery in employment, explains Raddar.
On the issue of financing, the placement of consumer loans has had a significant increase. This, he warns, may translate in the coming months into less money available in households.
(See: In the first quarter, household spending grew 9%).
The firm estimates that another factor that favored is the participation of remittances. This, he adds, can be seen in a positive way if one takes into account that at the end of the month the TRM was almost at $4,000 pesos. Nevertheless, in the following months, before a possible drop in the TRM, this data may be affected, he specified.
He also clarified that, “in May, spending had a change of 5.56% in current pesos compared to the previous month and 18.71% compared to the same month of 2021; monthly inflation was 0.8% and 9.06% compared to last year, causing real spending to have a variation of 4.68% compared to the previous month and 8.85% compared to the same month last year , which denotes an acceleration of spending in May“.
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