More than half of the products measured for the Consumer Price Index increased by more than 100%. Which ones top that list?
For iProfessional
01/13/2023 – 2:43 p.m.
The National Institute of Statistics and Censuses (INDEC) released data from december inflation which rose to 5.1%. in the field of food and non-alcoholic beveragesthe one with the highest incidence and the one that worries Argentines the most, the rise was 4.7% in the last month of the year and 95% throughout 2022.
The inflation number in this item is just above general inflation. But some products in the basket registered year-on-year increases that far exceed inflation figures. 29 of the 46 products that are taken into account for the Consumer Price Index (CPI) inflation increased their prices above 100% throughout the year.
The 10 products that rose the most in 2022
Between the vegetables are some of the products that were most affected by inflation during the past year. Such is the case of the lettuce, which occupies the first position in this ranking. accumulated a price rise of 408% year-on-year. Second, the onion. This basic product for any kitchen in Argentina suffered an increase of 336.9%.
The podium is completed by sweet potato with an increase of 293.3%. followed by the dad with 292.7% year-on-year increase. Fifth place is also a product that is obtained in the greengrocer’s and suffered an increase of 222.1%: the lemon.
In sixth place is sugar, which increased its price by 208.2%. coming back at vegetablesthe next place in the ranking goes to the butternut squash with an increase of 178.2% during 2022. The sunflower oil increased its price by 161.6% and the Delicious apple by 158.3%. The ranking of the 10 products that increased the most throughout 2022 are completed by eggswhich underwent an increase of 157.9%.
The INDEC reported that the price increase during the last month of 2022 was 5.1%, rounding up to 94.8% per year. Patricia Bullrich, María Eugenia Vidal and José Luis Espert, among others, protested on social networks.
Some vegetables went up three or four times more than the inflation index
Price projections for 2023
According to the REM (Survey of Market Expectations) prepared monthly by the BCRA, Estimated inflation for the current year would be around 100%, while the Government is betting that it will be around 60%.
In search of this objective, the economic authorities considered that the December index would be keysince they even hinted in recent weeks that the December record would be in line with that of the previous month (4.9%), something that reality ended up denying.
For the next few months, it is well known that the Minister of Economy, Sergio Massa, points out that the monthly data will pierce 4% in April, which is why it somehow collides with private expectations, since the REM inflation is expected to move until said month in a range that goes from 5.8% to 6.2 percent.
From the foregoing it appears that it is evident that the expectation of the Massa Plan is not shared by the majority of private analysts, and the reason is that the Argentine monetary authority will have to continue issuing huge amounts of pesos in various ways, which will add pressure to inflation that is around three digits.
