To stay on the same economic ladder, a family must generate more and more income. What items had a strong impact this month?
By iProfessional
02/23/2023 – 5:45 p.m.
The beginning of 2023 was marked by various price increases and high inflation tipped the balance, despite the government’s attempt to contain its impact. In this context and according to the survey carried out every month by the Center for Education, Services and Consumer Advice (CESyAC), a Buenos Aires family needed a total budget of $334,322.06 in January to meet all their expenses.
A family from Buenos Aires needed almost $335,000 to avoid being poor in January.
The most significant increases in the month occurred in:
- Bus Ticket (40%)
- Expenses (16%)
- Fruits and Vegetables (15.26%)
- Cleaning Products (9.74%)
The products and services that most impacted the family budget in January.
It should be noted that this report prepared by the Center for Education Services and Consumer Advice (CESyAC) associated with the Buenos Aires leader Fernando Barrera monitors the prices of the basket of food and services. The survey includes, among various items, the rental of housing, the expenses of a 10-year-old car, the payment of prepaid medicine, the fee for a private school for two children and the family membership in a club.
It is with these surveyed elements that the data is revealed that a family needed $11,144.06 per day in January to meet the monthly expenses; $2,929.98 are to purchase consumer products and $8,214.10 to hire basic household services.
Meanwhile, monthly inflation was in the order of 5.51% while the year-on-year price variation was 76.22%.
What happened to Fair Prices?
This edition, partially revised by the agency, includes a basket of 1,772 products from leading brands. Of the 8 Fair Price products included in the basket, the consumer advisory center detailed the registered increases: Cañuelas sunflower oil: from $404.85 to $421.05.
In addition, in a year-on-year comparison, skyrocketing increases have also been detected in the same product as the kilo of potatoes that became 278.03% more expensive (it cost $70.97 in February 2022 and is currently worth $268.28). Meanwhile, the kilo of squash went from $79.18 to $271.94 in one year, which represents a variation of 243.46%. The kilo of sugar was worth $72.41 while it is now $215.23 (197.25% more expensive in twelve months).
Other strong year-on-year increases were those of Shampoo (1l Plusbelle) (254.68%), powdered soap (194.70%) and tomato sauce (133.13%).
Fair Prices did not have a general impact, but rather on the price of particular products.
Record inflation 2023: the causes and impact of the exchange rate
Next May 25 will be the 20th anniversary since the kirchnerism came to power at the hands of Néstor Kirchner.
The most relevant data in these almost two decades is that in his three years in office Alberto Fernández accumulates more inflation than what Néstor Kirchner, Cristina Fernández de Kirchner and Mauricio Macri had in their respective presidential terms.
Since he arrived at the Casa Rosada in December 2019 until December 2022, he has accumulated a 300% inflation. This number exceeds the 295% of Mauricio Macri’s period 2015 to 2019, the 180% of CFK’s second term, the 130% of his first term and the 66% accumulated by Néstor Kirchner.
In the event that the projection of 60% established in the 2023 Budget is met, accumulated inflation would reach 540% throughout its term, but if we calculate inflation of 100% for this year would arrive with a cumulative inflation of 600%.
In addition to confirming an inflation similar to that of last year, the presidential term of Alberto Fernández would be the one with the highest accumulated inflation in Argentina in democracy after the period of Raúl Alfonsín between 1983 and 1989 in which there was hyperinflation. But in this case it was a six-year term, so Fernández is more serious.
