The wholesale price index registered an increase of 7.1% in July, while the cost of construction increased 6.8% in the same period, reported the National Statistics and Census Institute (Indec).
With these increases, in the first seven months of the year, wholesale prices advanced 44.4% and the cost of construction, 39.3%, expanded the Indec.
Thus, the agency recorded, in the last twelve months the rise was 64.8% for wholesale prices and 58.4% for the cost of construction.
In this way, the Indec concluded with the dissemination of the price indices that began last week with the retail segment, which in July marked an increase of 7.4%, 46.2% in the first seven months and 71 % in the interannual measurement.
The 7.1% rise in Wholesale Prices during July was driven by a 3.9% rise in Primary Products, 8% in Manufactured Products, 8.6% in Imported Products, together with 1.1% in Energy, indicated the work.
According to the Indec report, in the Primaries the rises of 2.3% in Agricultural products, 14.6% in Fisheries, 6.6% in Non-metallic Minerals, and 5.1% in Oil stood out. Oil and Gas.
Among Manufactured Products, there were increases of 5.7% in Food and Beverages, 8.1% for Textiles; 6.9% in Refined Oil; and 8.7% in Chemicals.
In addition, they increased 9.4% in Rubber and plastic; 6.6% for non-metallic minerals; 5.9% for Basic Metals and 7.8% for Vehicles, among others.
So far this year, Primary Products increased 44.4% with a rise of 38.6% in Agricultural, 46.9% in Fishing; 43.7% in Crude Oil and gas; and 50.2% in Non-metallic minerals.
Regarding the Cost of Construction, the rise of 6.8% was driven by a rise of 12.3% in Materials, 1.8% in Labor, and 5.1% for General Expenses.
The materials that increased the most during September were Cables and Conductors, with 26.8%; Taps and stopcocks 20%; Metallic products for sanitary and electrical installation, 19.3%; Granite countertop, 17.8%; Electrical control devices, 17.3%; Glasses, 16.7%; Gas devices, 16.1%; Metallic openings and bars, 15.9%.
So far this year, the Cost of Construction increased 39.6%, with a rise of 43.6% in the value of Materials, 35.6% in Labor; and 35.8% in General Expenses.
In the last 12 months, the increases were 58.4% at a general level, with a rise of 67.7% in the value of Materials, 50.1% in Labor, and 54.5% in General Expenses.
The Secretary of Production, José Ignacio de Mendiguren, assured this Wednesday that the short-term objective of the new economic cabinet is to “stabilize the macroeconomic variables” and “recover the purchasing power of wages”, for which it is essential to lower inflation, a problem that they will tackle “with growth and with coordination of economic policies”.
In this sense, he said that the Minister of Economy, Sergio Massa, has “management capacity and political will” and that “he is aware” of the scenario of recent weeks in which, he assured, “it is very difficult to invest, ( because) you cannot form prices or costs in a context in which inflation is accelerating”.
“Our great concern in the short term is to recover the purchasing power of wages. For this reason, we are going to attack the problem of inflation with growth and with policy coordination,” said De Mendiguren in dialogue with channel A24.