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Cities: March inflation hit the middle class hardest, driven by increases in prepaid bills, schools and housing

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Due to the higher increases school fees, private medicine, fuel and electricity, in March the consumer price index of the city of Buenos Aires increased by 13.2%, accumulating an increase of 57.3% in the first quarter of the year. And compared to a year ago, according to the Directorate of Statistics and Censuses of Buenos Aires, the increase was 285.3% (+20.8 percentage points compared to the previous month).

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The 13.2% is slightly lower than February’s 14.1%. Meanwhile, compared to November 2023, in those 4 months (December-March) of the current government management, inflation in Buenos Aires rises to 90.5%.

The largest increases hit Buenos Aires’ middle class the hardest, which represents half of the population of the city of Buenos Aires, as in the case of prepaid cards (+20.2%), Education (+36.8%), Electricity (+48.8%), Common housing expenses (+39 .4%) and Information and communication (+24.5%)

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“In March, the change in the CPI fundamentally responded to increases in the following divisions: Housing, water, electricity, gas and other fuels, Food and soft drinks, HealthInformation and communication and Educationwhich together explain 70.0% of the increase in the General Level,” states the official Buenos Aires Report.

By item the increases were:

  • Housing, water, electricity, gas and other fuels recorded an average increase of 17.9%, mainly due to the adjustments in the values ​​of condominium expenses and the brake left by the update of the residential electricity service tariffs in mid-February (+48.8%).
  • Food and non-alcoholic beverages increased 11.0%. The main increases came from Milk, dairy products and eggs (18.2%), Meat and derivatives (9.4%), Vegetables, tubers and legumes (22.4%) and Bread and cereals (8. 8%).
  • Health rose to 16.9% due to advance medical fee adjustments. Information and communication increased by 24.5%, thanks to the increase in tariffs for bundled communication services and mobile telephony.
  • Education saw an average increase of 36.8%following the increase in fees for formal education institutions.

Compared to March 2023, (+285.3%), electricity accumulates an increase of 493.9% and passenger transport of 395.8%. For its part, the food and non-alcoholic drinks category recorded an increase of 336.9%, highlighting bread and cereals with 375.8%, oils, butters and other fats with 372.4%, sugar, pastries and desserts with 369.2% and milk, dairy products. products and eggs 352.6%.

SN

Source: Clarin

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