January 27, 2023

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Inflation stood at 4.9 percent in November: down 1.4 points from last month

INDEC released CPI for November

Inflation has risen 4.9% November and at 92.4% Last year. The National Statistics and Census Bureau (Indec) said this while announcing last month’s Consumer Price Index (CPI).

As a result, inflation has risen in the 11 months to 2022 85.3% percent.

This is a 1.4 point decline compared to October and the lowest monthly figure since February this year.

“The segment with the highest increase in the month was housing, water, electricity, gas and other fuels (8.7%), within which the increase in electricity and gas services stood out as a result of the segmentation of tariffs across the country, and especially in GBA, due to segmentation, the increase in water”, the statistics agency highlighted. shows.

Food category was the least increasing with 3.5 percent. “However, it has the highest incidence in almost all regions, due to its weight within the general index. Increases stood out within the fruit category; mineral water, soft drinks and fruit juices; and bread and cereals; vegetables, tubers and pulses recorded declines in most regions,” it explained. .

straw Three components This slow rise affected the ratio. On the one hand, seasonality. November is typically a month in which the fruit and vegetable category reflects a drop in prices for some items, reducing pressure on the category. In addition to this factor, this year, a characteristic that brings good news, but it can be reversed, because the extensive drought limited the availability of grains to feed livestock and the value of meat “ironed” from the middle of the year. It was lagging behind other prices. This result is due to the market receiving an oversupply of animals that go to refrigerators instead of continuing the fattening process. Meat has a strong presence in the food basket, which has pulled the average down.

Also, the Minister of Economy, Sergio Massa, This week saw progress on new pricing plans with suppliers of packaging inputs and shoe manufacturers.

On the other hand, the project started in the middle of last month Reasonable prices, which froze the prices of more than 1,500 products in the first phase and set a higher ceiling, with a ceiling of 4% monthly increase for the rest of the products sold by supermarkets. Also, although the formal validity of the agreement began on November 12, negotiations began in October.

In October, an agreement guaranteeing participating companies access to dollars at the official rate to import key inputs in their production has yet to be finalized. However, at the request of the Commerce Ministry, which told supermarkets to reject increases above the “4% target” in the first days of the month, a large proportion of suppliers revised the lists originally sent downwards to accommodate them. For official purpose.

The Fair Price Scheme came into effect
The Fair Price Scheme came into force

For this reason, they in the government consider the impact of the project to be more effective than previous opportunities. They agree that the challenge in the coming months will be to ensure that the cost structure remains in place so that economic output is sustainable. For this reason, after setting its sights on supermarket prices, a deal was closed at the last minute on Tuesday with suppliers of cardboard, glass, aluminum and chemical products. The deal, a common claim by major companies that signed up first, represents a 3.9% month-on-month increase. Economy Minister Sergio Massa, who participated in the signing, said it seeks to provide “predictability” to the entire production process chain.

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In this case, the spokesperson of the Presidential Secretariat, Gabriella CerutiConfirmed today”The process of deflation” In the country. “All of us who go to the supermarket to shop, notice a slowdown in prices, fortunately we are entering an environment. Relative peace”.

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