With all rumors rising, the City’s inflation was 7.7% in July

Due to the increase in the price of Food, in particular vegetables, bread, cereals and meats, and oils, clothing, footwear, medicines, water services and those related to tourism and leisure, the Bureau of Statistics and Census of the City of Buenos Aires reported that, on average, the increase from July prices were 7.7%.

With this figure, the Buenos Aires Consumer Price Index (IPCBA) accumulates in the first 7 of the year. an increase of 44.1% and 69.2% in 12 months.

These figures anticipate national data that the INDEC will announce next Thursday and will correspond to the critical month, after the resignation of Martín Guzman and that Silvina Batakis was head of the Economy.

According to the Buenos Aires Report, the price increases were generalized because “in July, the change in the HICP responded fundamentally to the increases in the following divisions: Food and soft drinks, Restaurants and hotels, Homes, water, electricity, gas and other fuels, Leisure and culture and Clothing and footwear, which together account for 66.9% of the increase in the General Level. “.

The biggest increases last month were as follows, with some rumors seeing double-digit increases:

• Bread and cereals + 7.4%.

• Milk, dairy products and eggs + 8.3%.

• Meat and derivatives + 4.5%.

• Oils, fat and other fats: + 14.7%.

• Vegetables, tubers and legumes: + 11.3%.

• Fish and shellfish: + 13.6%.

• Fruit: + 11%.

• Wines + 9.9%,

• Beer: + 9.8%.

• Restaurants and hotels: + 12.3%.

Following the increase in the prices of prepared foods, there have been strong increases in restaurants, bars and taverns, together with increases in the rates of hotel accommodation services for tourist reasons.

Other items are also on the rise, such as housing, water, electricity, gas and other fuels, which grow by 7.1%, due to the impact of the increases rental values ​​and common housing costs. The water supply has increased by 20%.

In terms of leisure and culture, the increase was 13.3% due to the increase in the prices of tourist packages for seasonal reasons.

Clothing and footwear increased by 9.4% and medicines by 7.5%.

According to the Buenos Aires department, between January and July, food has increased 51.4%, led by vegetables, tubers and legumes with 74.8%, bread and cereals with 54.6%, milk and dairy products 51.4% and meat 44.6%. They are 7 points above the average.

The staple foods are the ones that hit the sectors with less resources, salaried and retired, the most, and they explain the sharp decline in the purchasing power of all these sectors.

Compared to a year ago, the rise in prices in clothing and footwear stands out with 91.8% and in foodstuffs, the increases in the prices of bread and cereals with 81.5%, meat (73.4% ), milk and dairy products (72.1%), vegetables, tubers and legumes (69.1%) and fruit (65.5%).

For August, analysts and advisors who, on average, had forecast 7.5% in their reports to the Central Bank for July, are predicting a price hike this month it could be around 6%, estimating that the year would close with 90.2%.