Food could increase almost 200% annually, according to a projection based on the latest increases made by the RA Center of the Faculty of Economic Sciences of the UBA.
The report estimates that the values of the item Food and drinks they would experience an increase of 197% in the period March 2023 – March 2024.
“This problem It afflicts, above all, low-income households, who do not have the means to protect themselves from price increases, given who allocate most of their income to subsistence”indicated.
Due to the crisis, the division of basic food purchases returned
The interannual increases in food and beverages require leading the inflationary dynamics, where March and April averaged 9.5% per monthThe document indicates and alerts that the rate of inflation in food increased by 2 percentage points measuring the first quarter of 2022 vs. 2023, with which the rate of price remarking increases and nothing causes it to loosen.
“It is worth clarifying that annual inflation narrates the behavior of prices during the last 12 months. However, the general rate of inflation a year ago is far from being similar to the current one (5% monthly average in the first quarter of 2022 against 7% for the same period of 2023)”, explains the Center of Studies for the Argentine Recovery.
The organization directed by the political scientist Luis Tonelli, explains that calculations such as annualizing the monthly rates of variation are frequently used, in order to know what inflation would be after a year. if current levels of inflation persist. This gives an approximation to the magnitude of the problem.
Inflation hits those who have less harder and proof of that are the numbers of the basic food basket (line of indigence)which increased 120.1% per year and the total basic basket (poverty line) which grew 113.2%, both above inflation.
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The products that increase the most
Of the excited products as part of the basic food basket, there were strong year-on-year increases to March, such as fruits and vegetables. Looking at specific products, the maximum increase was in the kilo of oranges, which grew by 422.2% against the same month last year. Other high increases were observed in the kilo of sweet potato (374.1%), potato (267.2%), lettuce (239.1%) and pumpkin (213.5%). On the other hand, the kilo of apple increased by 171.1%, and that of onion by 170.8%.
Other products were sugar (198.2%), oil (186%), noodles (152.9%), eggs (152.8%), beer (146.9%) and wine (133.2%). There were increases in line with general inflation in dairy products, soft drinks, cookies, cold cuts and sausages, and white meats.
Butter, cheese and yerba mate grew below inflation, and red meat in particular, well below – around 87% per year, against a general level of more than 100%.
Precisely meat will be one of the key foods that will grow this year and push up the average food inflation, since it is recovering the delayed price of the second half of 2022.
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