The month ends and while citizens prepare to suffer new increases in November, private consultants announced that the inflation October will again be impacted by the strong rises in food.
According to the general surveys, the item increased even above the general price indexsince it is estimated that the inflation of food arrived in October above 7%.
According to the weekly report of the consulting firm LCG, “the food and beverage index presented a inflation monthly average of 7.9% in the last four weeks and 7.2% point to point in the same period”.
In this sense, the products that increased the most in the last month were: dairy and eggs (12.4%); vegetables (11.3%), bakery products, cereals and pasta, (9.4%); fruits (7.8%) and meats (5.4%).
The consultant also noted that “the percentage of products with increases within the total basket was 18% in the last week of October. However, the average of the last four weeks remains at 23% of the total, which means that all the products in the basket would be registering at least one price increase per month.”
This means that food and beverages in October had a behavior similar to that of September, when the item had an increase of 6.7%, a value well above the general index (6.2%), according to data revealed by the INDEC (National Institute of Statistics and Censuses).
In this sense, the INDEC foresees that the inflation October will continue to be high, with a floor above 6%. With these projections, the accumulated increase during the first 10 months would be 77%..
Argentina is in the top 10 of the countries with the highest year-on-year inflation
According to the survey carried out by the Central Bank, by the end of 2022, Argentina will accumulate a rise on the price index around 100%, which places the country within the top 10 of the countries with the highest inflation YoY
In first place is Zimbabwe, with a inflation 280% year-on-year; followed by Lebanon with 162% and Venezuela 157%. In the ranking, the national territory occupies the sixth place.
