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New price data: increases in food and other increases put inflation between 5.5% and 6%

2023-01-24T15:02:32.993Z

Fuel, rates and prepaid will push the CPI up. 2022 ended with a record inflation figure. from December to December the accumulated figure was 94.8%. Even in the last month of last year, despite a slight drop, the CPI remained high at 5.1%. According to specialists, the start of 2023 will not be much better. Food, prepaid, rates and fuel, are the items indicated as responsible for showing a high number again. For the EcoGo consultancy, led by



2022 ended with a record inflation figure.

from December to December the accumulated figure was 94.8%. Even in the last month of last year, despite a slight drop, the CPI remained high at 5.1%.

According to specialists, the start of 2023 will not be much better.

Food, prepaid, rates and fuel, are the items indicated as responsible for showing a high number again.

For the EcoGo consultancy, led by Marina Dal Poggetto, the CPI data

 for January would stand at 5.6%

, 0.2 percentage points above what was expected last week.

"

This is mainly due to a record of inflation in food that is slightly higher than estimated

," the company that analyzes prices indicated in a paper

.

The analysis made on the second week of January shows

a variation of 1.2% in the price of food,

compared to the previous week.

"With this data and considering a projection of a weekly variation of 0.8% for the next two weeks of the month,

inflation for food consumed at home in January would climb to 4.4% per month,"

they pointed out from the firm.

Another item that will have a strong impact on the January data will be regulated products, highlighting the

increases in prepaid

(6.5%),

fuel

(2%), and

gas, electricity and water rates

(14.1%, 19.6 % and 20.1% respectively),

domestic service

(6.5%),

bus and train fares in AMBA

(between 20% and 70% depending on the service), among others”, they highlighted.

In line with a survey prepared by another consulting firm, LCG, in the third week of January

there was a 1.6% rise in food and beverages

, which implies an acceleration of 0.76 percentage points, compared to the previous week.

The document highlights the rise in vegetables, which climbed 6.9%;

followed much further behind by dairy products and eggs (5.7%).

Meats, for their part, had a 0.3% retraction in price.

The latest Survey of Market Expectations (REM) carried out by private analysts from the Central Bank of the Argentine Republic (BCRA) indicated that 2023 will close with a Consumer Price Index (CPI) of 98.4%, compared to 94.8 % with which it ended 2022.

The latest REM survey estimates that this month's CPI

will be 5.5%

, that is, 0.4 percentage points above December's inflation.

NS

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Source: clarin

All business articles on 2023-01-24

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