The consumer price index (CPI-Cost of Living) was recorded. in December an increase of 25.5% and 211.4% in 2023, The National Institute of Statistics and Census (Indec) reported this on Thursday. But the data is not only painful at the local level: Argentina occupies first place regionally with the highest CPI in 2023, and second place globally.
The 211.4% increase recorded in 2023 was the highest since 1990, year which ended with hyperinflation of 1.349%. Therefore, after many years of leadership of Venezuela, Nicolás Maduro’s regime came second in the region.
The Venezuelan Observatory of Finance (OVF), independent of the government, reported that monthly inflation was 3.9% (in Argentina it was 25.5% in December, according to Indec), while on an annual basis was 193%, and 211%. % at local level.
“In 2023, the inflation rate in Venezuela fell to 193%, from 305% in 2022“, underline from the OVF.
Argentina’s records are not only very discouraging locally, but also compared to other countries in the region and globally.. Regarding the first, Argentina ranked first, even ahead of Venezuela, which came in second place with an inflation of 193% recorded in 2023. The rest appears much lower: Colombia is in third place, with a double-digit CPI, 10%.
If the map is expanded, globally, The data is also catastrophicthe country placed comfortably in second place behind Lebanonwhich last year recorded 211.9%.
Almost the same picture that occurs both in the region and in the world. The first two positions record three-digit percentages, while from the third onwards they drop to two. Turkey then came in third place in the world rankings with 64.8% and Iran in fourth place with 43.8%.
The ranking is completed by: Syria: 37.8%, Sudan: 37.3%, Yemen: 36.8% and Zimbabwe: 26.5%.
Returning to the region, behind Colombia, which ranked third, with 9.28% in 2023. Uruguay recorded a cumulative 5.11%. The largest economy in the region, Brazil, recorded inflation of 4.62% during the year. And Chile was behind, at 3.9% per year.
Inflation in Argentina: item by item, which ones have increased the most
In the month of December the sector that recorded the greatest increase was that of Various Goods and Services (32.7%), due to the increases in articles of personal care; followed by Health (32.6%), due to changes in drugs and healthcare tariffs prepaid medicine; AND Transport (31.7%), due to the increase in fuel consumption.
However, the division with the highest incidence in all regions was Food and non-alcoholic drinks, with an increase of 29.7%, according to Indec, driven by the prices of Meat and derivatives, and Bread and cereals.
In the latter case the increase was explained by the sharp increase in the prices of Meat and derivatives and Bread and cereals.
In cuts of meat and derivatives, the most important increases concerned rump (42%), buttocks (40%) and hamburgers (36%).
In the bakery products sector, however, the most significant increases occurred in the prices of table bread (38.4%), sweet biscuits (39%) and wheat flour (52%).
In the last month of 2023 the items that recorded the least changes were Education, 6.2%; AND Housing, water, electricity and other fuels, 13.8%.
By categories, Core CPI increased 28.3%; followed by Regulated Prices, 20.7%; and Seasonal Products and Services, which saw an increase of 16.2%.
In the accumulated twelve months, however, regulated products increased by 164.9%; seasonal, 179%; and core inflation increased by 229.4%.
SN
Source: Clarin
