multitasker
New member
Buenos Aires inflation was 21.1% in December and 198.4% last year: it reached its record since 2012 - Infobae
Source:
www.infobae.com
January 08, 2024
The City Statistics and Census Directorate reported the data for 2023; What were the items that increased the most and the explanations for the increase?
By Martin Kanenguiser
Buenos Aires inflation was 21.1% in December and 198.4% last year: it is the largest increase since the beginning of the series Reuters
Inflation in the City of Buenos Aires was 21.1% in December and 198.4% last month. If this trend is confirmed on Thursday at the national level with the Indec data, Argentina will have surpassed Venezuela's annual inflation, which ended at 193%.
In any case, these are the highest figures – on a monthly and annual level – since the City of Buenos Aires began to measure inflation in 2012 autonomously due to the manipulation of national statistics during the government by Cristina Kirchner.
According to the Buenos Aires Directorate of Statistics and Censuses, food rose 30.4% last month and 241.3% last year in the Buenos Aires district.
In this regard, the general director of Statistics and Censuses of the City, María Eugenia Lago, indicated that “inflation is explained in the increase in Goods, mainly in the food and non-alcoholic beverages and transportation divisions, a division that was impacted by the strong adjustment in fuel prices.”
The official clarified that “the increasing trend in inflation in products that include the basic basket continues its inertia and that this will mean an increase in poverty. Systematically in inflationary periods there is a deterioration in income that lags behind prices.”
“Core inflation, representative of goods and services that are not regulated and that do not depend on seasonality, is above the general average,” stated the director.
The increase of the IPCBA. December 2023
Private consultants estimated that inflation was between 22% (FIEL) and 29% (ECO GO) last month and between 210% and 220% all year. Meanwhile, the Venezuelan Observatory of Finance (OVF), an independent center of the government of Nicolás Maduro, reported that inflation was 3.9% in December and 193% in the last 12 months. Thus, Argentine inflation was the highest in the region last year, after several years of leadership by the Chavista regime. Meanwhile, average inflation in the rest of Mercosur was 4%.
According to the Buenos Aires organization, “during the month of December the Consumer Price Index of the City of Buenos Aires registered an increase of 21.1%.”
In this way, “the year-on-year – year-on-year (i.a.) – trajectory of this indicator stood at 198.4% (+37.8 percentage points -p.p.- above the previous month)”.
In particular, the Food and non-alcoholic beverages category “increased 30.4%, contributing 5.70 p.p. to the monthly variation of the IPCBA”, with an increase of 241.3% throughout the year.
In this case, “the main impulses came from Meats and derivatives (36.2%) and Bread and cereals (32.0%). They were followed in importance by Milk, dairy products and eggs (26.3%), Sugar, pastries and desserts (30.6%) and Soft drinks (34.1%).”
For its part, “transportation” averaged an increase of 30.4%, with an incidence of 2.77 p.p. at the General Level, mainly impacting increases in the prices of fuels and lubricants for vehicles for household use.” The annual increase in this case was 189.8%.
Then, the organization reported, “the increases in the values of automobiles and air tickets stood out. “Restaurants and hotels rose 19.8% and had an impact of 2.33 p.p., due to increases in the prices of food prepared in restaurants, bars and eateries.”
One step further down, “the increases in rates for hotel accommodation services for tourist reasons were next in importance.”
Meanwhile, “Housing, water, electricity, gas and other fuels registered an increase of 11.6%, with an incidence of 2.18 p.p., due to increases in rental prices.” In 2023 the increase was 196%.
IPCBA. December 2023
Then “the adjustments in the values of the common expenses of the home and in the residential rate of the water supply service” were located.
In addition, prices in the health sector increased in December "19.4% and had an impact of 1.52 p.p., due to the impact of increases in the prices of medicines and prepaid medicine fees." During the year the increase was 164%.
Meanwhile, “Home equipment and maintenance averaged an increase of 21.9%, with an incidence of 1.36 p.p., due to increases in the prices of cleaning products and large appliances.” During the year the increase was 186.5%.
“Next in importance were the adjustments in the remuneration of domestic service. The rest of the divisions had a positive impact, although smaller, at the General Level,” they indicated.
“Next in importance were the increases in fees for formal education establishments and prepaid medicine, along with adjustments in the values of common expenses for housing and in the rates for accommodation services.”
Maria Eugenia Lago
In interannual terms, “both groups accelerated to: 227.6% y.a. in the case of Goods (+63.2 p.p. compared to the previous month) and 177.4% i.a. in the case of Services (+19.6 p.p.)”. “The monthly dynamics of Goods responded fundamentally to increases in food prices (mainly meat, baked goods and dairy products),” they stated.
Then “the increases in the values of fuels and lubricants for vehicles for household use, medicines and automobiles stood out.”
In particular, “during the month of December the Resto IPCBA group - proxy for core inflation - averaged an increase of 22.2%. In year-on-year terms, it accelerated to 209.5% yoy. (+41.8 p.p. compared to the previous month)”.
“The Regulated group increased 17.1%, mainly due to increases in fuel prices for vehicles for household use. To a lesser extent, the adjustments in the fees of educational establishments (initial, primary and secondary level) and prepaid medicine stood out.
Thus, “this group accelerated its rate of increase to 164.3% y.a. (+27.2 p.p.)”
Finally, “Seasonal goods and services averaged an increase of 19.3%, highlighting the increases in the prices of clothing and hotel accommodation rates.”
“Next in importance were the increases in the prices of air tickets, fruits and tourist packages,” it was stated.
www.buysellba.com
Source:
La inflación porteña fue del 21,1% en diciembre y del 198,4% el último año: llegó a su récord desde 2012
La Dirección de Estadística y Censos de la Ciudad informó el dato del 2023; cuáles fueron los rubros que más aumentaron y la explicaciones del alza
www.infobae.com
January 08, 2024
The City Statistics and Census Directorate reported the data for 2023; What were the items that increased the most and the explanations for the increase?
By Martin Kanenguiser
Buenos Aires inflation was 21.1% in December and 198.4% last year: it is the largest increase since the beginning of the series Reuters
Inflation in the City of Buenos Aires was 21.1% in December and 198.4% last month. If this trend is confirmed on Thursday at the national level with the Indec data, Argentina will have surpassed Venezuela's annual inflation, which ended at 193%.
In any case, these are the highest figures – on a monthly and annual level – since the City of Buenos Aires began to measure inflation in 2012 autonomously due to the manipulation of national statistics during the government by Cristina Kirchner.
According to the Buenos Aires Directorate of Statistics and Censuses, food rose 30.4% last month and 241.3% last year in the Buenos Aires district.
In this regard, the general director of Statistics and Censuses of the City, María Eugenia Lago, indicated that “inflation is explained in the increase in Goods, mainly in the food and non-alcoholic beverages and transportation divisions, a division that was impacted by the strong adjustment in fuel prices.”
The official clarified that “the increasing trend in inflation in products that include the basic basket continues its inertia and that this will mean an increase in poverty. Systematically in inflationary periods there is a deterioration in income that lags behind prices.”
“Core inflation, representative of goods and services that are not regulated and that do not depend on seasonality, is above the general average,” stated the director.
The increase of the IPCBA. December 2023
Private consultants estimated that inflation was between 22% (FIEL) and 29% (ECO GO) last month and between 210% and 220% all year. Meanwhile, the Venezuelan Observatory of Finance (OVF), an independent center of the government of Nicolás Maduro, reported that inflation was 3.9% in December and 193% in the last 12 months. Thus, Argentine inflation was the highest in the region last year, after several years of leadership by the Chavista regime. Meanwhile, average inflation in the rest of Mercosur was 4%.
According to the Buenos Aires organization, “during the month of December the Consumer Price Index of the City of Buenos Aires registered an increase of 21.1%.”
In this way, “the year-on-year – year-on-year (i.a.) – trajectory of this indicator stood at 198.4% (+37.8 percentage points -p.p.- above the previous month)”.
Increases by category
In this way, "during December the variation of the IPCBA responded fundamentally to the increases in the following divisions: Food and non-alcoholic beverages, Transportation, Restaurants and hotels, Housing, water, electricity, gas and other fuels, Health and Equipment and maintenance of the household, which together explained 75.2% of the increase in the General Level.”In particular, the Food and non-alcoholic beverages category “increased 30.4%, contributing 5.70 p.p. to the monthly variation of the IPCBA”, with an increase of 241.3% throughout the year.
In this case, “the main impulses came from Meats and derivatives (36.2%) and Bread and cereals (32.0%). They were followed in importance by Milk, dairy products and eggs (26.3%), Sugar, pastries and desserts (30.6%) and Soft drinks (34.1%).”
For its part, “transportation” averaged an increase of 30.4%, with an incidence of 2.77 p.p. at the General Level, mainly impacting increases in the prices of fuels and lubricants for vehicles for household use.” The annual increase in this case was 189.8%.
Then, the organization reported, “the increases in the values of automobiles and air tickets stood out. “Restaurants and hotels rose 19.8% and had an impact of 2.33 p.p., due to increases in the prices of food prepared in restaurants, bars and eateries.”
One step further down, “the increases in rates for hotel accommodation services for tourist reasons were next in importance.”
Meanwhile, “Housing, water, electricity, gas and other fuels registered an increase of 11.6%, with an incidence of 2.18 p.p., due to increases in rental prices.” In 2023 the increase was 196%.
IPCBA. December 2023
Then “the adjustments in the values of the common expenses of the home and in the residential rate of the water supply service” were located.
In addition, prices in the health sector increased in December "19.4% and had an impact of 1.52 p.p., due to the impact of increases in the prices of medicines and prepaid medicine fees." During the year the increase was 164%.
Meanwhile, “Home equipment and maintenance averaged an increase of 21.9%, with an incidence of 1.36 p.p., due to increases in the prices of cleaning products and large appliances.” During the year the increase was 186.5%.
“Next in importance were the adjustments in the remuneration of domestic service. The rest of the divisions had a positive impact, although smaller, at the General Level,” they indicated.
Goods and services
Last month, “Goods registered an increase of 30.3%, above Services, which increased 14.2%. "mainly reflecting increases in the prices of restaurants, bars and food houses and rents."“Next in importance were the increases in fees for formal education establishments and prepaid medicine, along with adjustments in the values of common expenses for housing and in the rates for accommodation services.”
Maria Eugenia Lago
In interannual terms, “both groups accelerated to: 227.6% y.a. in the case of Goods (+63.2 p.p. compared to the previous month) and 177.4% i.a. in the case of Services (+19.6 p.p.)”. “The monthly dynamics of Goods responded fundamentally to increases in food prices (mainly meat, baked goods and dairy products),” they stated.
Then “the increases in the values of fuels and lubricants for vehicles for household use, medicines and automobiles stood out.”
In particular, “during the month of December the Resto IPCBA group - proxy for core inflation - averaged an increase of 22.2%. In year-on-year terms, it accelerated to 209.5% yoy. (+41.8 p.p. compared to the previous month)”.
“The Regulated group increased 17.1%, mainly due to increases in fuel prices for vehicles for household use. To a lesser extent, the adjustments in the fees of educational establishments (initial, primary and secondary level) and prepaid medicine stood out.
Thus, “this group accelerated its rate of increase to 164.3% y.a. (+27.2 p.p.)”
Finally, “Seasonal goods and services averaged an increase of 19.3%, highlighting the increases in the prices of clothing and hotel accommodation rates.”
“Next in importance were the increases in the prices of air tickets, fruits and tourist packages,” it was stated.
www.buysellba.com
