All the Answers
Well-known member
April inflation was 8.8% and accumulated 289.4% in the last 12 months - Infobae
Source:
La inflación de abril fue de 8,8% y acumuló 289,4% en los últimos 12 meses
Fue el primer índice mensual de un dígito desde octubre pasado. En lo que va del 2024 la suba de precios fue de 65 por ciento, informó el Indec. Qué dijo el Gobierno y cuál es el número que mira Luis Caputo
www.infobae.com
May 14, 2024
It was the first single-digit monthly index since last October. So far in 2024, the price increase was 65 percent, reported Indec
The Indec released the CPI for April. REUTERS/Irina Dambrauskas
Inflation was 8.8% in April and thus returned to single-digit monthly territory after half a year. The Indec reported this Tuesday that the internual CPI was 289.4% and that in the first four months of 2024 the price increase accumulated by 65 percent . The Government is betting on rapid disinflation and, for that reason, hastened a reduction in the Central Bank's reference interest rates in recent weeks.
Thus, it is the first time since October that the Consumer Price Index (CPI) drops below two monthly figures. It is a trend that could not be broken since last October, when inflation was 8.3 percent. Later, in the midst of the presidential elections, it accelerated to 12.8% in November and after the devaluation of the exchange rate it accelerated to 25.5% in December, 20.6% in January, 13.2% in February and 11%. in March. Now, for April the Survey of Market Expectations (REM) carried out by the Central Bank indicated an inflation of 9 percent.
In April, the division with the greatest increase in the month was Housing, water, electricity, gas and other fuels ( 35.6% ) due to increases in gas, water and electricity rates. They were followed by Communication ( 14.2% ), due to increases in telephone and internet services, and Clothing and footwear ( 9.6% ) due to seasonal changes. On the other hand, “the two divisions that recorded the smallest variations in April were Alcoholic Beverages and Tobacco ( 5.5%) and Miscellaneous Goods and Services ( 5.7% ),” indicated the statistical agency.
“The divisions with the highest incidence were Housing, water, electricity, gas and other fuels (35.6%) in the regions of GBA, Cuyo and Patagonia, where the increases in Gas, Water Supply and Electricity stood out; and Food and non-alcoholic beverages (6.0%) in the other regions, where Meat and derivatives stood out; Milk, dairy products and eggs; and Vegetables, tubers and legumes,” mentioned Indec.
This monthly increase of 35.6% in Housing due to the readjustment of rates explains why when analyzing all the goods and services considered by Indec between Regulated and Seasonal, in the first case inflation was 18.4% and, in the second item , 9.9 percent . Core inflation , that which discards these two and is taken into account as a more “stable” trend in the price rhythm, was 6.3 percent .
The consulting firms previously estimated a number of between 8 and 9 percent. The C&T CPI for the Greater Buenos Aires region presented a monthly increase of 8.7% in April, following the downward trend of recent months. In turn, the interannual variation was 298.1%. “As happened in February and March, we estimate that inflation at the national level will be lower than in the GBA due to the greater impact of the tariffs,” said Camilo Tiscornia 's consultant . The item with the greatest weight would have been food and beverages with an increase of 6.8% in the month, with a great predominance of baked goods, meats and dairy products.
For Invecq , inflation continued to slow in April. The CPI prepared by the consulting firm indicated that inflation in April was 9.5% monthly. For its part, the consulting firm Orlando J. Ferreres & Asociados recorded an inflation of 9.6%. “As for the main items, Housing and Education led the increases for the month, with monthly increases of 53.6% and 9.6% respectively, followed by Food and Beverages and Clothing, which presented a variation of 6.5% and 5.8% respectively,” their report indicated.
The CPI of the Freedom and Progress Foundation showed an increase of 8.4% in April, slowing down 2.6 percentage points compared to March. In this way, in the first four months of the year the CPI accumulates a rise of 64.4%. The interannual variation reaches 287.8%, similar to the previous month's data.
In turn, core inflation marked a strong slowdown compared to the previous month, reaching 4.4% and reaching its lowest monthly variation since January 2022. For its part, regulated inflation registered an increase of close to 18 percent. Ecolatina estimated an inflation of 8.9% for GBA driven by the rate increase. Nationally they expect a number closer to 8 than 9 percent.
Meanwhile, EcoGo estimated that April inflation was 8.8%, accumulating an increase of 66.2% in the first four months of the year and presenting a year-on-year variation of 304.4 percent. “The tension between the slowdown in activity and the increase in regulated prices continues in April, with a dynamic where the fall in real wages is compounded by the correction of relative prices, which forces the redistribution of spending in favor of regulated services and leaves little room for consumption,” the consulting firm stated.
The Government accompanied the path of disinflation with a reduction in BCRA interest rates. The 50% annual rate that the Central Bank determined for the monetary policy rate already represents 4.2% monthly. Signs of inflationary slowdown led the Government to accelerate a drop in the interest rate. Given a CPI that is milder than market expectations, the Central Bank could see room for additional readjustment .
