May inflation: 4.7%, according to consultancy Orlando Ferreres

Inflation is expected to drop sharply in May and could be at 4.7%, according to the register of consultant Orlando Ferreres. Domestic equipment and Health, led the increases in the fifth month of the year, recording a monthly increase of 6.5%.

To get close to that number, it would differ from the record of 6% in April and 6.7% in March.

According to the registry of the consultant Orlando Ferreres, Inflation in May was 4.7% monthly and recorded year-over-year growth of 54.5%. By contrast, core inflation rose to a monthly rate of 5.2%, marking an annual increase of 57.7%.

Relative to the core measurement, this showed a variation of 5.2% and in annual terms it recorded an increase of 57.7%. As for seasonal goods and services, these recorded a monthly variation of 1.6%, while regulated goods increased by 4.8% monthly.

Therefore, in the cumulative year the increase in prices, according to its measurement, it was 25.9%, while core inflation rose to 26.4%.

“CPI-OJF (GBA) posted a monthly increase of 4.7% in May. On the main items, Home Furnishings and Health led the increases for the month, posting a monthly increase of 6.5. %, followed by Miscellaneous goods, which showed a positive change of 6.1%, “warns the report.

What happened in March and April

The general level of the consumer price index (CPI) in Argentina rose 6% monthly in April and accumulated in the first quarter of the year a variation of 23.1%. In the year-on-year comparison there was an increase of 58.0%.

The division with the highest increase that month was Clothing and footwear (9.9%), followed by Restaurants and hotels (7.3%) and Health (6.4%). In the latter case, the increase in the share of prepaid medicines has had a strong impact.

Inflation for the month of March was 6.7%, the highest number so far during Alberto Fernández’s administration, while the quarterly number is the highest since 1991.

The numbers for the third month of the year came in a context of rising prices due to the war between Ukraine and Russia, and in the midst of inmates in the government after the agreement with the International Monetary Fund (IMF).

The greatest increases occurred in the “Education” division (23.6%) in conjunction with the start of classes. Followed by “Clothing and footwear” (10.9%) and “Housing, water, electricity and other fuels” (7.7%).

YN