In April’s official price index, which surprised with an 8.4% rise, food products outperformed the average by posting a rise in 10.1%. This dynamic appears to be holding so far in May: according to private polls, the Comes with order increases of 8% and 9% per month.
According to the Supermarket Price Observatory of the Scalabrini Ortiz Economic and Social Studies Center (CESO), the increase was 2.1% in the last week measured (until May 22) and the monthly variation reached an increase of 6.6%. Of course, some products accumulate monthly changes above the average. It is the case of ready meals (22.4%), dried pasta (9.2%), sauces (12.1%) and cheeses with increases of 6.9%.
The survey corresponding to the third week of the month of Eco Go consultancy had a 2.6% change food prices compared to the previous week. With these data and considering a projection of weekly variation of 1.8% for the last week of the month, lin May, home-cooked food inflation would rise to 9.0% per month.
As the consultant explains: “If we also consider the evolution of food consumed away from home (10.6%), food inflation would reach 9.3%”.
A similar level of increases were seen by the consultancy LCG which measures virtual prices in supermarkets on a weekly basis. “The food and beverage index presented a monthly inflation of Average of 8.6% over the past 4 weeks and 8% end-to-end over the same period. So far this month, inflation has racked up 6.1%,” the adviser said in his latest report.
According to this survey, four categories were above the weekly average. Meanwhile, the Meats category trailed below but accounted for 28% of the total weekly increase. Fruit showed a weekly decline of 1.7%.
According to information from LCG, the third week of the month increases, they were concentrated in fewer products, but they were more relevant than the previous week.
Across all sizes, on-shelf prices increased the most during the second week of the month. In the case of LCG, during that period, the indicator rose to 3.6% in one week, before slowing down to 1.3% in the following week.
For CESO, the 2.1% rise in the third week of the month led to a certain slowdown compared to the second week, but it set a very high floor for just seven days.
While food plays a large part in the consumer price index, especially among those on lower incomes, it is only one of the items stoking the inflation fire.
In this sense, this month must also be calculated sharp increases in regulated prices such as prepaid (3.43% for those earning less than six minimum wages and 4.76% for the rest of users), AMBA tolls (between 40% and 50%), fuel (4%), taxis (20 %), buses and trains (7.7%, indexed to March inflation), subways and Premetro (15.5%), domestic services (7%), private schools (3.35%), tobacconists (10, 1%), electricity tariffs (27% on average) and gas (25%), among others”, according to the CESO.
Source: Clarin
