During the month of November the Consumer Price Index of the City of Buenos Aires recorded an increase of 5.8%accumulating in the first 11 months of the year an increase of 82.9% and an interannual variation of 89.9% according to data from the Statistics and Census Directorate of Buenos Aires.
If the November increase were to repeat itself in December, 2022 would close with annual CABA inflation of 93.5%.
5.8% represents a decrease from the previous month (October scored 7%) but is higher than September’s 5.6%.
The average increase of 5.8% was influenced by Food and Non-Alcoholic Beverages, the item with the highest incidence in the Index, recorded an average increase of 4.2%. Within the division, however, the greatest impulses came from Bread and cereals (6.2%), Milk, dairy products and eggs (4.7%) and Fruit (14.1%). On the other hand, the declines in vegetables, tubers and legumes (-4.1%) contributed to easing the pressure on this sector.
Compared to a year ago, Foodstuffs and soft drinks amassed a 99.7% increase, with increases of 124.1% in oils, fats and butter and 119.9% in vegetables.
Also contributing was the fact that “Clothing” was up 3.6% in November, accumulating an interannual increase of 116.4%. And that in November there would be no adjustment to the quotas of private medicine.
Housing, water, electricity, gas and other fuels increased by 12.4%, affecting mainly the increases in condominium expenses. The increases in rents follow in importance, together with the increases in the residential tariff for the water service (+79.2%), electricity (+16.1%) and methane network (12.2%).
Restaurants and hotels increased by 5.9%. Transport recorded an increase of 5.7% due to increases in the values of fuels and lubricants for vehicles for domestic use. Also due to the update of taxi fares (which came into force on November 5) and the increases in car prices.
Recreation and culture increased by 7.1% mainly due to the price increases of package tours.
The Buenos Aires Management Report indicates that prices for Services increased by 6.8% compared to 4.4% for Goods.
“Goods’ monthly dynamics basically responded to increases in food prices (mainly bakery, dairy and fruit). To a lesser extent, the increases in the values of clothing, fuels and lubricants for motor vehicles for domestic use, automobiles and medicines stand out”.
Secondly, “The performance of the Services mainly reflected the increases in the values of common expenses accommodation, restaurants, bars and trattorias and rentals. The adjustments in the residential tariff for the water service and in the salary of domestic service personnel follow in importance”.
NS
Source: Clarin
