Wednesday May 17, 2023 | 4:55 p.m.
Wholesale prices rose 6.9% in April while the cost of construction grew 7.8%, INDEC reported.
In the case of wholesalers, the variation was due to the 6.7% rise in “Domestic Products” and 9.2% in “Imported Products”.
On the other hand, the general level of the Basic Internal Wholesale Price Index (IPIB) showed a rise of 7.1% in the same period.
#DataINDEC
Wholesale prices increased 6.9% in April 2023 compared to the previous month and 103.9% year-on-year: national prices, 6.7% monthly; and imported ones, 9.2% pic.twitter.com/cvLyxopOfg— INDEC Argentina (@INDECArgentina) May 17, 2023
In this case, the variation is explained by the rise of 6.9% in “National Products” and 9.1% in “Imported Products”.
Likewise, the general level of the Basic Producer Price Index (IPP) registered an increase of 6.9% in the same period, as a consequence of the rise of 7.2% in “Primary products” and of 6.7% in in the “Manufactured products and electrical energy”.
Meanwhile, the rise in the cost of construction was the result of a 7.1% increase in the “Materials” chapter, a 7.9% increase in the “Labor” chapter, and a 10.8% increase in the “Materials” chapter. General expenses”.
#DataINDEC
The cost of construction rose 7.8% in April 2023 compared to March and 113.4% year-on-year: that of materials, 109.6%; general expenses, 106.3%; and labor, 119% pic.twitter.com/LEu50mRJuN— INDEC Argentina (@INDECArgentina) May 17, 2023
The chapter “Manpower” incorporates the new values established by the wage agreement of the Construction Workers’ Union of the Argentine Republic (UOCRA).
The increase in labor categories has an impact on the “General expenses” chapter, because it contains the “Serene” item, which is framed within the resolution.
The National Electricity Regulatory Entity (ENRE) approved an increase in electricity rates as of April 1 for the distributors Edenor and Edesur, within the framework of the comprehensive rate reviews of both companies; the chapter “General expenses” incorporates these new tariff values.
