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In the first eight months of the year, the cost of tariffs almost doubled general inflation - Infobae
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En los primeros ocho meses del año el costo de las tarifas casi duplicó a la inflación general
Con varias subas por delante, el valor de las boletas de luz, agua y gas sufrió un incremento de 179,9% en los primeros ocho meses del año, mientras que el IPC general fue del 94,8%
www.infobae.com
September 12, 2024
With several increases ahead, the value of electricity, water and gas bills increased by 179.9% in the first eight months of the year, while the general CPI was 94.8%
By Mariano Zalazar
On average, rates increased by 7% during the month of August (Illustrative Image Infobae)
The inflation data for August was released on Wednesday, with a result that was within the forecasts of some consulting firms (4.2%). Although the deceleration trend did not continue, the CPI remained within the 4% range.
However, there were some items that far outpaced average inflation and tilted the price balance upwards. The clearest example is that of public service rates, which rose by an average of 7% in the eighth month of the year, compared to 4.2% for general inflation.
This figure is not surprising, considering that in August the prices of the three essential services rose: electricity, gas and water . The first two registered a 4% increase, which began to take effect on the first day of that month. The increase corresponds to the transport and distribution components of the bills, which had been frozen in the previous four months to contain their impact on inflation, a priority for the Government.
As regards water, AySA users began paying 4.48% more for water and sewage service rates. The increase was the result of the application of the polynomial formula established in resolution 9/24, which provides for a monthly indexation of the cost of the service in line with inflation.
According to information from AySA, 44% of water and sewage users belong to the low zone (1,187,139 users), 37% to the medium zone (996,718) and 20% to the high zone (534,517).
The trend throughout the year
The increase in services above the average inflation is not a new economic phenomenon, but has been evident for several months in the figures published by the National Institute of Statistics and Census (Indec).According to the agency, the Consumer Price Index (CPI) rose by 94.8% in the first eight months of the year. In the same period, the “housing, water, electricity, gas and other fuels” category rose by 179.9%, almost double the general CPI.
The difference was driven by tariff increases and the gradual elimination of subsidies, which occurred mainly in January (that month the public services sector increased by 14%), February (20.2%), March (13.3%), April (35.6%) and June (14.3%).
The only good news for users' pockets is that last August there was a slight slowdown in the year-on-year accumulated inflation. In detail, between August 2023 and the same month this year, the item that includes public services registered an increase of 298.8%, while in July the year-on-year variation had been 306.6%.
The largest increase in rates occurred in April, when they rose 35.6% (Illustrative Image Infobae)
However, there are still several important adjustments ahead, so it cannot be confirmed in advance that the public services item will follow the same slowdown trend as general inflation. In fact, as occurred in August, it is likely that the cost of tariffs will continue to push general inflation up .
Above the rest
As mentioned, the “housing, water, electricity, gas and other fuels” category was the one that increased the most in the first eight months of the year (179%), but there were other items that also had more pronounced variations than the general CPI. This was the case for the categories of communication (increased 155.5% in that period), education (132.4%), various goods and services (121%), transportation (114.8%) and “alcoholic beverages and tobacco” (100.9%).The rest of the items closed the first eight months of the year at or below the general CPI. These are health (at 94.8%, it tied the general inflation), restaurants and hotels (93.2%), recreation and culture (89.4%), food and non-alcoholic beverages (82.4%), home equipment and maintenance (71.9%) and clothing and footwear (61%).
