Inflation in May was 5.1%: it is up 60.7% in one year

Inflation in May was 5.1%, the National Institute of Statistics and Census (INDEC) reported Tuesday when it announced the Consumer Price Index (CPI). The variation year on year thus reaches 60.7%.

With the value of May, inflation is once again a record year-over-year figure: 60.7% is the highest figure since 1992.

In the year it accumulates 29.3%. health and transport it was the rumors that increased the most in the monthly measurement.

“The rise of Food and soft drinks (4.4%) had the highest incidence in all regions. Within the division, the increases in Meat and derivatives stood out for their greater impact; milk, dairy products and eggs; and bread and cereals, “the official agency said.

“In turn, Oils, fats and butter; Sugar, sweets, chocolate, sweets, etc .; Coffee, tea, yerba mate and cocoa; and Mineral waters, soft drinks and juices are those with the greatest increase; while Vegetables, tubers and pulses have experienced decreases in most regions, “added INDEC.

The category with the lowest increase in May was Communication, with 3.1%, followed by Education, with 3.2%.

The area of ​​the country with The largest increase was in the Northwest, with 5.6%; while the one with the lowest increase was the Conurbano. Patagonia was another region that fell below the 5.1% average to 4.9%. Whose reached 5.2%; the Pampa region 5.3%, the same percentage as the Northeast.

The voice that grew the most in the North West reaching 5.6% was “Housing, water, electricity, gas and other fuels”, up 10% compared to April.

Dall’Indec clarified that “the prices recorded that fall within the Care Prices program” which in May represented 5.98% of the total prices recorded in the GBA.

Although the CPI for May was one notch lower than the previous two months (6.7% in March and 6% in April), the indicator is still high and with little chance of declining in the medium term.

Private quotes

Days ago, the Minister of Economy, Martín Guzmán, predicted that May would have “a lower rate of inflation than in April”, although he predicted it would still be high.

Private estimates were above 5%, although everything indicated that this time it would be below 6% in April.

“Of course any number of these we’re talking about is high, problematic for the functioning of our company and our economy, “acknowledged the national official.

Meanwhile, for the consultancy firm LCG, inflation in May was 5.2%. In the first week of June, the LCG food inflation index rose 2.8%, marking an acceleration of 1.9 percentage points from the previous week.

for LCG the the projection of inflation towards the end of the year reaches 75%. The figure is in line with the estimate of the Market Expectations Survey (REM) carried out month by month by the Central Bank and which in the May edition reached 72.7%.

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