Inflation: in the second week of May, food prices rose more than the previous 6

Eco Go consultancy warns, under the direction of economist Marina Dal Poggetto an “acceleration” in food prices in the second week of May. The latest measurement gives an average increase of 2%, from 1.2% in the first week of this month and the highest in the last 6 weeks.

In recent weeks, it has been 2.1% and 3.1%, for example, and in April, the record was not lost. not to exceed 1.3%.

Data for CPI for food it was the highest since the third week of March when it marked exactly double: 4%. It should be noted that this mark was given a few days after President Alberto Fernandez declared the “war against inflation” and pushed public recognition to the Government that the March price index would go up “give bad”.

In April, finally, that assumption became a reality when the data in the third month of the year was 6.7%, more than expected even by consultants and economists who typically measure CPI and who they gave it closer to 6% than 7%.

According to a preliminary report conducted by Eco Go weekly, home -consumed food prices will close in May at 5.5%, three -tenths above the inflation forecast for the fifth month of the year in which they see at approximately 5.2%.

This number is largely driven by Oils and Fats, Baked Products, and Cereal and Pasta items. The first category registered an increase of 10.4% driven by blended oil, which recorded the highest increase of the week, spiked sharply with an increase of 17.4%. “Despite the renewal of confidence in oil regulating retail prices in February, tensions caused by rising international prices and the complex relationship between the Government and producers are weakening the agreement,” he said. says the document. Echo Go.

So far, biscuits and crackers, wheat flour and semi-prepared poultry-based products, which are at about 5%, continue to rank up significantly.

The price of meat, on the other hand, which was the strongest rise in the first week of the month, remained calm this time.experienced an increase of 1.2%, compared to 2.4% recorded in the first week of this month.

But in addition to food increases, to prepare for the number Eco Go estimates will be inflation in May, the consultant considers the expected increase in categories such as: housing, health and education, mainly driven by increases which occurred in the first two weeks of May: services and domestic costs, 12%; prepaid and fees in schools in the Province of Buenos Aires, with an increase of 8%, respectively, and fuel, 7.4%

What happened to consumption in April

Argentines ’consumption levels fell 8.7% in April year-on-year and added its second consecutive decline, according to a report prepared by consulting firm Focus Market. In this way, the accumulated number for the first quarter of the year is displayed a negative result of 3.1%, but a growth of 53.6% in turnover, compared to the same period in 2021.

Rising prices are continuing its march and concerns about consumption are growing. “In the accumulated 2022, consumption still continues at positive rates in self -services. In the case of large stores, it shows a small growth of 0.8%. Without However, in April – seasonally adjusted – all of the store has lost consumption. The average ticket purchase grows due to inflation but decreases in volume, “said Damián Di Pace, director of Focus Market.

The report also revealed that the average family needs an average of $ 42,500 per month to buy a basic food basket, considering the Care Prices program. Leaving the official plan aside, the same basket is asking for approximately $ 45,000. “In the Federal Capital and the first cordon of the conurbation of Buenos Aires need an additional $ 7,000 to $ 8,000“, the report featured.

In relation to consumption, the products with the most decline in April were Food and Personal Care, while Beverages and Hygiene showed negative variations of lower magnitude in accumulated 2022 (from January to April) compared to 2021 .

YN