Inflation continues: food rises to 5.2%

While leading economic advisors estimate June’s inflation rate will not exceed last month’s 5% floor, the goods and services consumed by the population keep up with your pace of acceleration, according to some private surveys are reported during the first weeks of the month.

In case of the food which had slowed slightly in May has again increased on average 5.2% in the first two weeks of Juneaccording to the daily records of the Metropolitan University for Education and Work (UMET) Workers’ Statistics Institute (IET).

This report also highlights that “at the category level, the main rumor that accelerated was vegetables (+13.5 percentage points) also for seasonal reasons. Meanwhile, most food products have slowed down the price run, except for fish and oils (in addition to vegetables) “.

According to the general coordinator of the EIT, Mariano De Miguel, “the increase in food so far in June warns that it will be difficult to break through the minimum monthly inflation level of 5%.. The high inflation regime is going to last a long time, “she said.

For consultancy LCG that measures online prices in supermarkets, the rise in food prices averaged 0.57% in the second week of June, down 2.2 points from the previous week. However, the average monthly increase in the item was 5.1% in the last four weeks and 5.2% point-to-point in the same period.

Another indicator of the evolution of prices in supermarkets and shops is the composite basket 21 products of the Free Consumers entity. In the first fortnight of the month the variation in this case was 2.39%. Meanwhile, the accumulated figure for the year revealed a 31.06% increase, revealed Héctor Polino, a representative of that association.

The high levels of growth in food prices add to the costs of services, among which tariffs are pending, in full definition of the segmentation for the removal of subsidies. According to a survey by the Center for Education, Services and Consumer Advice (CESyAC), a typical family living in the city of Buenos Aires needed $ 215,272.97 in May to cover all your expenses, in May. This budget increased by $ 9,316 from April, which was $ 205,956.51.

This survey includes, among other items, the rent of a house, the expenses of a 10-year-old car, the prepaid drug subscription, the tuition for a private school for two children and the family subscription to a club. . the expenses of a private school, the dues of a club or prepaid, among other services typical of that social class.

On what will come in June, in terms of inflation, from the Latin American Economic Research Foundation (FIEL), they warned that price measurements in the second week of June marked a growth of 1.3% compared to the previous week and was 5.6% higher than the same week in May.

“The biggest increase corresponds to seasonal products driven by increases in the Tourism category due to the long weekend and the proximity of the winter break, “FIEL said in a statement.

“For its part, core inflation (which does not take into account seasonal variations) grew by 2.0%. The average of the prices that had positive increases was 7.0%, while if we consider only the prices of core inflation, the increase in item prices with positive increases was 5.3%”, Stated the institution.