Thursday , January 28 2021

Thursday inflation is known in November and is expected to be around 3%

The Indec will announce this Thursday's inflation data from last November, which they would be below 3%, so living costs would have soared this year by about 42%, according to private estimates.

The October consumer price index fell by 5.4%, accumulating 45.9% in the last twelve months, as a result of strong increases in rates, prepayments, clothing and footwear,

According to Orlando Ferreres's 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.

He considers that "in particular, the products with the highest frequency are Foods and Drinks, together with different goods", respectively by 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, by October, the main basket of food and basic needs – which determines the poverty rate – accounted for an increase of 54.6%.

While the poverty line, which calculates only the food, has grown by 51.5% on an annual basis. Consultant Ellipis, on the other hand, calculates this 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 on the inflationary trend, the year will end with a total price increase of between 45 and 50%, which is one of the highest levels in the world and comparable to what happened in 1991.

Source link