Wednesday , January 20 2021

The index INDEC published the November inflation on Thursday

on INDEC message on Thursday of inflation November, which will be below 3% and will accrue to date around 42%, according to private estimates.

October Consumer Price Index (CPI) dropped 5.4%, accumulating 45.9% in the last 12 months as a result of sharp increases in rates, prepayments and clothing and footwear. According to the Orlando Ferreres Center for Economic Research, inflation was 2.5% per month in November.

"The price level continued to show signs of slowing growth in November," he said. Consider that "in particular, the products with the highest prevalence were Foods and Drinks, along with different goods", with an adjustment of 2.5% and 5.8%, respectively.

Although the sharp rise in prices affects the entire society, the worst sectors are lower income. According to INDEC, the main basket of food and basic needs defining the poverty index rose by 54.6% to October. While the poverty line, which calculates only the food, has grown by 51.5% on an annual basis.

The consultant Elypsis, for its part, estimates that inflation was 2.8% in November. Meanwhile, the REM, published by the Central Bank, said analysts expect a slowdown in rising costs of living in the coming months.

Beyond this initial brake in the inflationary trend, the year ends with a total price increase of between 45 and 50%, which is one of the highest indices in the world and comparable to what happened in 1991. For the President of the Central Bank, Javier Gonzales Fragha, this trend will slow down in 2019, and inflation will be closer to 20 than expected 30% of consultants.

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