With increases of more than 10%, Tourism and Restaurants strengthen the inflation of the month

Due to the winter holidays, domestic tourism and the arrival of tourists from abroad, taking advantage of the exchange gap, the items related to Recreation and Culture and Restaurants and Hotels lead the price increase of the month, with increases between 10 and 15%.

This seasonal price hike adds to the sharp price increases that began at the beginning of the month, following the resignation of Martín Guzmán and the jump in the value of the dollar.

According to a report by Ecolatina, in the first fortnight of July retail inflation – CPI / GBA – marked an increase of 7.9% compared to the same period in June.

This measure agrees with that of other estimates. The LCG Consultant points out that “for now our survey on food prices has shown an increase of 4% in the first two weeks of the month, which is equal to 8.2% monthly. Our inflation projection for July exceeds 7% monthly ”.

If these numbers are confirmed, July inflation will exceed this year’s previous record, which was 6.7% in March.

According to Marina Dal Poggetto, “Inflation in July would be 6.2%, with food with an increase of 5.9%. Above the average would be Leisure (+ 16.4%), Education (+ 7.7%) and Clothing (+ 7%).

Based on what happened in the first fortnight of this month, the surveys of some Provincial Statistics Departments – especially in the tourist influx regions, such as CABA, Bariloche, Mendoza, Salta – show a 7% increase, with food prices – the item with the highest incidence in the average index and in sectors with fewer resources – with an increase of 7.5%.

Although some of the June increases were seasonal (in the case of vegetables), no setbacks have been observed so far in July, while there have been new increases in fruit. In addition, the new agreed increases in Care Prices must be added, which mainly correspond to Food and cleaning items. And the explosion of alternative dollars, the greater devaluation of the official exchange rate and the increases linked to tourism.

Another fact that consumers report is the speed of the increases prices included between the values ​​at the beginning and half of the month and those foreseen for the second fortnight.

If these values ​​are confirmed, in the first 7 months inflation would exceed 45%, bringing the annual projection to around 90%.

These values ​​rethink income policy as pensions, salaries, social plans and other official aid have lagged behind inflation.