This Friday the INDEC will release the consumer price index for April with a record that economists estimate it will be around 7.5%. The same analysts are already warning that the May result will be even worse.
The measurements circulating so far reflect this this month’s escalation is strong, driven in part by the jump in alternative dollars in the last week of April.
From Alphacast, they warn you with 3.5%, “last week had the second highest weekly inflation since the 2002 crisis”. The previous peak occurred in August 2019, when weekly inflation reached 4.4% following Alberto Fernández’s PASO triumph. “Minister Massa’s promise was to bring inflation to 3%, right? He kept his word,” Luciano Cohan, co-founder of AlphaCast, joked on Twitter.
For its part, LCG says that in the first measurement in May, the Food and Beverage Survey scored an increase of 1.2% weekly“decelerating by 0.6 percentage points from the previous week”.
“Average monthly inflation continues at high levels, at 8.7% per month. This week, the percentage of products with price increases stood at 10% of the total basket”, stressed by LCG
The Central Bank’s Survey of Market Expectations (REM) forecasts a 7.5% increase in the Consumer Price Index for April and 7.4% for May. But there are forecasts that put it at 8%, the highest one-month record since April 2002, when it hit 10.4%.
The list of price increases for May is extensive. Electricity, gas, transport, prepaid cards, private schools, taxis, tolls, credit card refinancing are some of the confirmed increases.
The next increase in electricity rates will affect the highest income groups and those who have not asked to maintain subsidies. The increase will be around 60%, as indicated by the Ministry of Energy.
Network gas service users will apply an increase of 50%, also taking into account the elimination of subsidies for higher income families.
There was this month too a 7.7% increase in the bus fare, that went to cost $67, while gasoline and diesel were up 4%.
In the province of Buenos Aires it was registered a 6.7% increase in tuition with state subsidy. And prepaid cards recorded increases of between 3.43% and 4.76% throughout the country.
The most marked leap was that of tolls, with increases of 50% in the month at the western and northern entrances to the city of Buenos Aires.
AQ
Source: Clarin
