Friday April 14, 2023 | 4:23 p.m.
Inflation in the country shot up to 7.7% in March, the highest in a year and above what was expected by private consultants, and accumulated a 104.3% increase in the last twelve months, reported the National Institute of Statistics and Census (Indec).
Consequently, during the first quarter of the year, prices rose by 21.7%, which means more than a third of what was projected by the government for all of 2023.
The increase in Food and non-alcoholic beverages (9.3%) had the greatest impact in all regions. Within the division, the rise in Meat and derivatives stood out.
In turn, although to a lesser extent, the increases in Vegetables, tubers and legumes stood out, followed by Milk, dairy products and eggs; and finally by Fruits.
The division with the highest increase in the month was Education (29.1%), due to increases in all educational levels at the beginning of the school year.
#DataINDEC
Consumer prices (#CPI) rose 7.7% in March 2023 compared to February and 104.3% year-on-year. They accumulated a rise of 21.7% in the first quarter pic.twitter.com/2WbSe1dPLj— INDEC Argentina (@INDECArgentina) April 14, 2023
The next divisions with the greatest variations in the period were Clothing and footwear (9.4%), coinciding with the change in season, and Food and non-alcoholic beverages (9.3%), due to the increases in Meat and derivatives and Milk, dairy products, and eggs.
The increases in cigarettes were also notable, within Alcoholic beverages and tobacco (8.3%); of water, gas and electricity services in some regions, in Housing, water, electricity and other fuels (6.5%); and fuel and public transport, within the Transport division (5.3%).
The two divisions with the lowest variation in March were Recreation and culture (4.4%) and Communication (1.9%).
At the category level, Seasonal led the increase (9.3%) followed by Regulated (8.3%); while the Core CPI registered an increase of 7.2%.
