The increase in food contributed 1.7 percentage points to the general index for April.  (Photo: Marcelo Capece/NA).

The inflation of April was 6% and, although it showed a drop compared to the data for March, it was the second highest record of the management of Alberto Fernandez. The data published by Indec it was in line with the projections of private analysts, who expected a value between 5.5% and 6%.

The Minister of Economy, Martin Guzmanhad also anticipated that the figure for April would be lower than the 6.7% of Marchwhich was a record for the last 20 years.

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“Inflation for the month was driven by core component (which does not take into account seasonal or regulated prices), which increased 6.7% monthly (versus 6.4% in March), mainly affected by the upload foodbut also by increases in restaurants, recreation, medicines, rent of housing, acquisition of vehicles, among others”, explained the Palacio de Hacienda in a statement.

The increase in food contributed 1.7 percentage points to the general index for April. (Photo: Marcelo Capece/NA).

The Ministry of Economy added that the seasonal prices increased 5.4% (compared to 6.2% in March) and contributed 0.7 percentage points to the general level, with fall in vegetables; moderate increases in fruits; and go up in clothing. The regulated prices They also reduced their rate of increase to 3.9% per month (versus 8.4% in March) and contributed another 0.7 points to average inflation, with rises in prepaid and fuel, among others.

Accumulated inflation in 2022 and in the last 12 months

In the first four months of 2022 the Consumer Price Index (CPI) published by the Indec accumulated a rise of 23.1%. This is the largest increase for the January-April period since the start of the series in 2017.

Over the last 12 months, meanwhile, inflation shot up to 58%. Thus, the interannual measurement noted the third consecutive rise and it was the highest year-on-year increase for the last three decades.

“It is the highest in 30 years, you have to go to January 1992 to find a higher year-on-year figure, 76%“said the economist. Fernando Marulpartner of FM&A.

How much was food inflation in March

The food slowed down for the second time the rate of rise, since they went from 7.2% in March to 5.9% last month. In any case, it was the item that had the most weight in all the regions and contributed 1.7 percentage points to the general level.

In April, the price of meat rose between 5% and 7% in all regions of the country.  (Photo: NA).
In April, the price of meat rose between 5% and 7% in all regions of the country. (Photo: NA).

“It was highlighted rising meats and derivatives; bread and cereals; Y milkdairy products and eggs, for being the ones that had the most incidence this month. At the other extreme, fruits and vegetables, tubers and legumes were among those with the lowest incidence, with falls even in some regions in the latter case, “said the INDEC report.

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“The biggest increases occurred in oils Y bread and cerealswhich had increases of between 8% and 15% by region, followed by meat and dairy productswith raises of between 5% and 7%. These items were the most affected by the rise in international prices of the main commodities during the last months, due to the drought, but also to the war conflict”, detailed the Ministry of Economy.

Inflation: the items that rose the most in April

As the analysts consulted by TNthe inflation figure for April was impacted by increases in dress, recreation Y Health. In addition, the records of food and transport, following the increase in fuels.

Last month there was three items what did they show monthly increases above 6% that marked the general level:

  • Clothing and footwear: 9.9%.
  • Restaurants and hotels: 7.3%
  • Health: 6.4%.
In April, the item "clothing and footwear" it shot up 9.9% and, although it slowed down compared to the previous month, it contributed one point to the general index.  (Photo: Indec).
In April, the item “Clothing and footwear” soared 9.9% and, although it slowed down compared to the previous month, it contributed one point to the general index. (Photo: Indec).

The rest of the sectors surveyed by the INDEC showed lower-than-average raises. The April variations were:

  • Food and non-alcoholic beverages: 5.9%.
  • Home equipment and maintenance: 5.5%.
  • Transportation: 5.3%.
  • Various goods and services: 5.3%.
  • Recreation and culture: 5.2%.
  • Housing, water, electricity and other fuels: 4.6%.
  • Education: 3.7%.
  • Communication: 3.7%.
  • Alcoholic beverages and tobacco: 3.3%.

What did Alberto Fernández say about inflation?

When there was a little over an hour left for the data to be released, the president Alberto Fernandez referred to the subject from France. “The economic program will help slow down inflation, that’s for sure. We are not satisfied or happy with the inflation rates that we have today in Argentina. We have to keep working on that,” the president said.

“There is a percentage of that inflation, which I think is relatively high, which is derived from the increase in food prices as a consequence of the war”, justified Fernandez.

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