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The Indec will release December inflation today: private companies estimate that it was around 30 percent - Infobae
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www.infobae.com
January 11, 2024
Today the jump in prices for 2023 will also be known: it would have exceeded 200% and would be the highest in 33 years
This Thursday the Indec publishes the inflation for December 2023 (EFE/Matías Nápoli)
After rising 12.8% in November, today Indec will release the Consumer Price Index (CPI) for December, which would have approached, according to private estimates, 30 percent. In this way, it would exceed 200% in 2023, the highest annual figure since 1990.
If the monthly figure exceeds 25%, it would be the highest since February 1991 (26.9)%; previously in March 1990 it reached 95.53 percent.
The first inflation data for the last month of 2023 was that of the City of Buenos Aires, which reached 21.1% monthly and had an interannual variation of 198.4 %, according to the city's National Directorate of Statistics and Censuses.
In the City, the item that mainly drove the increase was Food and non-alcoholic beverages, which increased 30.4%, contributing 5.7 percentage points to the monthly variation of the IPCBA. Within the division, the main boosts came from Meat 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%).
In this regard, according to the consulting firm EcoGo, inflation was at 29.4% and ended 2023 with an annual increase of 222.8%.
“In December, the end of price agreements was combined with the devaluation and the seasonal dynamics of the month, and the prices of food and beverages registered a rise of 34.0%, which represents a strong acceleration after the 15.3% captured by our survey in November,” the consultancy maintained.
The food and beverage category would have been the main driver of inflation in December. (AP Photo/Natacha Pisarenko)
For its part, the Invecq measurement placed December inflation at 22.8%. “This extraordinary increase is mainly explained by the increase in the official exchange rate (118%); and, to a lesser extent, by the gradual correction of some regulated prices. Inside, the dynamics of food stand out, the price of which rose almost 34%,” the report highlighted.
Meanwhile, according to Ecolatina's CPI, prices closed December with an increase of 24.7 percent. “Our CPI climbed 212.3% year-on-year, well above the 95.7% year-on-year in December 2022. The acceleration responded particularly to the dynamics of the dismantling of price agreements and the transfer to prices of the discrete jump in the official exchange rate in the middle of the month (+118%),” they explained.
“The food and beverage category rose for the second consecutive month above the general level (+27.7%), driven by increases in mass consumption products. The chapters with the greatest increases were health (+38.0%); home equipment and maintenance (+35.0%) and recreation (+29.7%),” they added.
The C&T retail price survey for the GBA region marked a monthly increase of 23.4%, the highest since February 1991. In turn, in twelve months the increase was 204.4%, the highest since May 1991.
The least encouraging measurement was that of Fundación Libertad y Progreso, which projected an inflation of 29% based on the analysis of the first three weeks from December. “As for the interannual variation, it was around 210%, and if the aforementioned projection is confirmed, we will close the year with an accumulated inflation of around 219 %, the highest since 1990″, they stated in their report.
With this increase, the government of Alberto Fernández registered in accumulated terms an inflation close to 1,000% since 2019, above the figures achieved in the governments of Mauricio Macri, Cristina Kirchner, Néstor Kirchner and Eduardo Duhalde. The governments of Raúl Alfonsín and Carlos Menem experienced hyperinflation in 1989 and 1990.
During Macri's presidency, accumulated inflation in the same period (December 2015-October 2019) was 271%; In Cristina Kirchner's second term (2011-2015), it reached 176% and in the first, 119 percent.
“Last year's inflation was the highest since the hyperinflation of 1990 and is in the top 10 highest in history. The acceleration is due to the exchange rate jump on December 12, plus price deregulation. All chapters of the basket registered increases of more than 15%. There was a decrease in real wages close to 8% compared to November and 13% compared to October, indicated the UMET.
Beyond these numbers, the inflationary acceleration in December together with the exchange rate jump of 118% caused consumption to collapse: it fell 13.7%< a i=2>, according to the Argentine Confederation of Medium Enterprises (CAME). Thus, in 2023 consumption in this type of business decreased 3.4 percent.
It is worth mentioning that consumption was already collapsing in November, the month in which it fell 11.2 percent.
“The last month of 2023 turned out to be the most challenging for the SME trade sector, which had hoped to offset the losses accumulated between January and November; “December is traditionally a highlight period of the year,” CAME said in a report.
Source:
El Indec difundirá hoy la inflación de diciembre: los privados estiman que rondó el 30 por ciento
Hoy también se conocerá el salto de los precios para 2023: habría superado el 200% y sería el más alto en 33 años
www.infobae.com
January 11, 2024
Today the jump in prices for 2023 will also be known: it would have exceeded 200% and would be the highest in 33 years
This Thursday the Indec publishes the inflation for December 2023 (EFE/Matías Nápoli)
After rising 12.8% in November, today Indec will release the Consumer Price Index (CPI) for December, which would have approached, according to private estimates, 30 percent. In this way, it would exceed 200% in 2023, the highest annual figure since 1990.
If the monthly figure exceeds 25%, it would be the highest since February 1991 (26.9)%; previously in March 1990 it reached 95.53 percent.
The first inflation data for the last month of 2023 was that of the City of Buenos Aires, which reached 21.1% monthly and had an interannual variation of 198.4 %, according to the city's National Directorate of Statistics and Censuses.
In the City, the item that mainly drove the increase was Food and non-alcoholic beverages, which increased 30.4%, contributing 5.7 percentage points to the monthly variation of the IPCBA. Within the division, the main boosts came from Meat 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%).
In this regard, according to the consulting firm EcoGo, inflation was at 29.4% and ended 2023 with an annual increase of 222.8%.
“In December, the end of price agreements was combined with the devaluation and the seasonal dynamics of the month, and the prices of food and beverages registered a rise of 34.0%, which represents a strong acceleration after the 15.3% captured by our survey in November,” the consultancy maintained.
The food and beverage category would have been the main driver of inflation in December. (AP Photo/Natacha Pisarenko)
For its part, the Invecq measurement placed December inflation at 22.8%. “This extraordinary increase is mainly explained by the increase in the official exchange rate (118%); and, to a lesser extent, by the gradual correction of some regulated prices. Inside, the dynamics of food stand out, the price of which rose almost 34%,” the report highlighted.
Meanwhile, according to Ecolatina's CPI, prices closed December with an increase of 24.7 percent. “Our CPI climbed 212.3% year-on-year, well above the 95.7% year-on-year in December 2022. The acceleration responded particularly to the dynamics of the dismantling of price agreements and the transfer to prices of the discrete jump in the official exchange rate in the middle of the month (+118%),” they explained.
“The food and beverage category rose for the second consecutive month above the general level (+27.7%), driven by increases in mass consumption products. The chapters with the greatest increases were health (+38.0%); home equipment and maintenance (+35.0%) and recreation (+29.7%),” they added.
The C&T retail price survey for the GBA region marked a monthly increase of 23.4%, the highest since February 1991. In turn, in twelve months the increase was 204.4%, the highest since May 1991.
The least encouraging measurement was that of Fundación Libertad y Progreso, which projected an inflation of 29% based on the analysis of the first three weeks from December. “As for the interannual variation, it was around 210%, and if the aforementioned projection is confirmed, we will close the year with an accumulated inflation of around 219 %, the highest since 1990″, they stated in their report.
With this increase, the government of Alberto Fernández registered in accumulated terms an inflation close to 1,000% since 2019, above the figures achieved in the governments of Mauricio Macri, Cristina Kirchner, Néstor Kirchner and Eduardo Duhalde. The governments of Raúl Alfonsín and Carlos Menem experienced hyperinflation in 1989 and 1990.
During Macri's presidency, accumulated inflation in the same period (December 2015-October 2019) was 271%; In Cristina Kirchner's second term (2011-2015), it reached 176% and in the first, 119 percent.
“Last year's inflation was the highest since the hyperinflation of 1990 and is in the top 10 highest in history. The acceleration is due to the exchange rate jump on December 12, plus price deregulation. All chapters of the basket registered increases of more than 15%. There was a decrease in real wages close to 8% compared to November and 13% compared to October, indicated the UMET.
Beyond these numbers, the inflationary acceleration in December together with the exchange rate jump of 118% caused consumption to collapse: it fell 13.7%< a i=2>, according to the Argentine Confederation of Medium Enterprises (CAME). Thus, in 2023 consumption in this type of business decreased 3.4 percent.
It is worth mentioning that consumption was already collapsing in November, the month in which it fell 11.2 percent.
“The last month of 2023 turned out to be the most challenging for the SME trade sector, which had hoped to offset the losses accumulated between January and November; “December is traditionally a highlight period of the year,” CAME said in a report.
