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Driven by food, inflation advanced 4% in January and exceeded private projections

2021-02-11T19:16:55.409Z


The Indec data was known in the midst of the national government's efforts with businessmen and trade unionists to define a price and salary agreement. The cost of food jumped 4.8%.


02/11/2021 16:02

  • Clarín.com

  • Economy

Updated 02/11/2021 16:07

The National Institute of Statistics and Censuses (Indec) reported this Thursday that the Consumer Price Index (CPI-Cost of living) advanced 4% in January and that, again, the segment with the highest incidence was food. 

"Consumer prices (#IPC) rose 4% in January 2021 compared to December 2020 and 38.5% year-on-year," Indec reported.

The official body indicated that "the Food and non-alcoholic beverages division (4.8%) had the highest incidence in all regions, mainly due to the increases observed in Meat and derivatives, Fruits and Oils, fats and butter". 

#DatoINDEC


Consumer prices (#IPC) rose 4% in January 2021 compared to December 2020 and 38.5% year-on-yearhttps: //t.co/9KGT8dFaCC pic.twitter.com/RZPnhDFRVi

- INDEC Argentina (@INDECArgentina) February 11, 2021

In the Ministry of Economy they remarked that "the increase in prices was driven by Food and Beverages, after the delisting of Maximum Prices, and the update of Care Prices."

"The inflation of the month responded mainly to the Regulated, which increased 5.1% per month (vs. 2.6% in December), within the framework of a process of normalization of the economy in which price adjustments are being carried out. regulated goods and services in various parts of the country, "they said in the economic portfolio. 


Last Friday, the agents of the financial market consulted by the Central Bank considered that

January inflation was 3.9%

and they projected that this variable will

end in 2021 with a cumulative advance of 50%.

A central issue of economic policy for this year is the reduction of inflation after having closed 2020 with a cumulative 36.1%, about 18 percentage points below the 53% of 2019.

Thus, in the last months of the year a dynamic was experienced that should not be taken as representative of what to expect in 2021.

The Minister of Economy, Martín Guzmán, assured that inflation "must be attacked in a comprehensive manner, multiple instruments of economic policy are used" and it is

"a multi-causal phenomenon."

In that sense, he ratified that the economic team's search is for "inflation to be

reduced by five percentage points

, approximately, year by year."

That result "is macroeconomically feasible" and requires complementing with price and income policies that are necessary to "coordinate expectations," Guzmán said.

Source: clarin

All business articles on 2021-02-11

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