Tuesday, June 25, 2024

ECONOMY | 06-10-2023 14:27

Inflation in Buenos Aires City hit 12% in September, 140.9% year-to-year

Far from the CPI forecast by the Ministry of Economy, in Buenos Aires City the inflation in the ninth month of the year was 12%.

Argentina's inflation woes continued in September with consumer prices up 12 percent for the month, an acceleration from the 10.8 percent recorded the previous month.

The data, published by the Buenos Aires City government's General Statistics and Census Bureau, said the monthly figure was “the highest since inflation started being calculated in the City separately in 2012."

So far this year, consumer prices have increased 101.3 percent, said the office, while the annual variation over the last 12 months totals a giant 140.9 percent.

In September, the CPI in Buenos Aires City reportedly was due to the increases in the following divisions: Food and non-alcoholic beverages; Housing, water, electricity and gas; Restaurants and hotels; Transport; and Clothing and Footwear, which in all explained the overall 67.2-percent rise.

The sectors with the biggest increases in Buenos Aires City were:

  • Food and non-alcoholic beverages climbed by 14.1 percent. Inside the division, the main increases came from Meat and related products (16.8 percent) and Bread and cereals (12.4 percent), followed by Milk, dairy and eggs (10.8 percent), Fruits (28.6 percent) and Vegetables, tubers and legumes (10.5 percent). This item had a 145.4-percent year-to-year variation.
  • Housing, water, electricity and gas increased 9.6 percent, affected mainly by the rises in rent. To a lesser extent, the adjustment in value of housing common charges stood out.  This item had a 172.1-percent year-to-year variation.
  • Restaurants and hotels rose on average by 13.8 percent as a result of increases in the prices of prepared meals in restaurants, bars and food takeaway. They were followed by increases in hotel rates for travel reasons. This item had a 166.9-percent year-to-year variation.
  • Transporte experienced a 12.6-percent increase, due to the rise of airplane tickets, cars and fuels and lubricants for household vehicles. This item had a 117.2-percent year-to-year variation.
  • Clothing and footwear rose on average by 15.4 percent as a result of the seasonal behaviour of the division. This item had a 121.4-percent year-to-year variation.

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