The inflation continues to rise. Last Friday, the National Institute of Statistics and Censuses officially announced that it reached 8.4% in April, being the highest monthly level since 2002, when it reached 10.4%, after leaving of convertibility. This figure exceeded the speculations of both public entities, which expected it to be around 7.5%, and private entities, which placed it closer to 8%.
In addition to knowing the data of the inflation, the Consumer Price Index (CPI) accumulated, in the first four months of this year, an increase of 32%. Regarding the last 12 months, the rise in prices reached 108.8%. It is worth remembering that it, in March, was 7.7%, which means a monthly increase of 0.7%.
The items that were most affected by the rise in inflation were, in first place, clothing and footwear with 10.8%, followed by food and non-alcoholic beverages with 10.1%, below, restaurants and hotels (+9.9%); and home equipment and maintenance (+8.6%). Even within food, those who suffered the most from the rise were dairy products, sugar, meat and baked goods. Now, according to the C&T survey, prices continue the acceleration of the last week of April.
After the inflation data, the words of the government and the plans of Sergio Massa
Once the official figure of the inflation and the Consumer Price Index (CPI), the Minister of Economy, Sergio Massa, will meet with his team over the weekend with the aim of making some announcements in order to address the critical situation in the country. In addition, minutes after the data was released, the Secretary for Economic Policy, Gabriel Rubinstein, explained what the Government considers to be the causes of the constant rise in prices.
“The uneasiness of the exchange rate in the financial dollar markets, in the last part of the month, prompted preventive price increases in many products and services in our economy,” Rubinstein wrote on his Twitter account. In addition, the Secretary of Industry and Productive Development of the Nation, José Ignacio de Mendiguren, anticipated that the economic team “will not stand still and will continue working.”
