Buenos Aires inflation was 14.1% in February and rose to 264.5% last year - Infobae
Source:
La inflación porteña fue del 14,1% en febrero y ascendió a 264,5% el último año
El aumento de precios mensual en la Ciudad de Buenos Aires se desaceleró respecto a enero. Seguros y servicios financieros fue el rubro que más se incrementó. Qué se espera a nivel nacional
www.infobae.com
March 07, 2024
The monthly price increase in the City of Buenos Aires slowed down compared to January. Insurance and financial services was the area that increased the most. What is expected at the national level
Food and non-alcoholic beverages increased 14.7% during February in CABA. EFE/ Juan Ignacio Roncoroni/Archive
February inflation in the City of Buenos Aires was 14.1% , which represents a slowdown compared to 21.7% in January. In this way, the interannual variation was 264.5%, as reported by the General Directorate of Statistics and Censuses of Buenos Aires (DGEyC). Meanwhile, in the first two months of 2024 the accumulated variation was 38.9%.
During February, the variation in Buenos Aires inflation responded fundamentally to increases in the following divisions: Food and non-alcoholic beverages, Transportation, Housing, water, electricity, gas and other fuels, Health and Information and communication, which together accounted for 72. 2% of the increase in the General Level.
The divisions that increased the most were insurance and financial services with 30%, alcoholic beverages and tobacco (21.3%), health (21.1%) and transportation (21%).
Inflation by items in February in CABA
How much did each item increase?
In detail, Food and non-alcoholic beverages advanced 14.7% and within the division, the main boosts came from Bread and cereals (16.4%), Milk, dairy products and eggs (17.1%) and Meats and derivatives (7.9%).For its part, the Transportation chapter averaged an increase of 21.0% due to the adjustment in the value of the urban bus ticket. Next in importance were increases in the prices of automobiles and fuels and lubricants for vehicles used in the home. On the contrary, the falls in air ticket prices contributed to slowing the division's rise
The evolution of inflation in CABA
Housing, water, electricity, gas and other fuels registered an increase of 13.2%, due to the impact of increases in residential electricity service rates and rental values.
Health rose 21.1% due to adjustments in prepaid medicine fees, which increased on average 30% in February.
Information and communication increased 19.4% mainly due to increases in rates for grouped mobile telephone and communication services.
On the other hand, during February, Goods registered an increase of 13.3%, below Services , which increased 14.8%.
The monthly dynamics of Goods responded to increases in food prices (mainly baked goods, dairy products and meats). Next in importance were increases in the prices of automobiles, appliances and personal care items, and clothing.
Meanwhile, the behavior of the Services mainly reflected the increases in prepaid medicine fees and urban bus fares. To a lesser extent, the increases in the prices of restaurants, bars and eateries, in residential rates for electricity service and in the value of housing rentals stood out.
Projections at the country level
The DGEyC data are the first for February inflation and may be an indication of the result of the Consumer Price Index (CPI) that Indec will publish on March 12. In this sense, while Buenos Aires inflation was 21.1% in December and 21.7% in January, the CPI showed variations of 25.5% and 20.6%, respectively.The economic analysts consulted by the Central Bank in the Market Expectations Survey (REM) expect inflation of 15.8% for February. Similarly, for EcoGo “February inflation was 15.9% monthly. This means a reduction of 0.4 percentage points compared to the previous week's projection. The decrease responds to a slowdown in food inflation, as a result of a lower record among those consumed outside the home than estimated.”
For its part, the C&T consulting firm for the GBA region estimates that last month inflation reached 16.3% and according to the Libertad y Progreso Foundation (LyP), the indicator moved 16.8% on average.
President Javier Milei recently said that “the market consensus would be saying that it is around 15%, and when you subtract the statistical drag, we are very close to single digits. Inflation is clearly going down.”
