Indec releases inflation data for September

Behind the 12.4% August, the Indec will publish this Thursday the Consumer Price Index (CPI) for September. Analysts expect inflation to reach the two digitsalthough it could slow down compared to the previous month.

According to Camilo Tiscornia, Director of C&T Economic Advisors, the monthly increase in the ninth month of the year would be positioned “above 11%”he stated in dialogue with PERFIL.

For her part, analyst Natalia Motyl raised this estimate by one point, positioning it at a 12%driven mainly by increases in the basic food basket.

The CPI of the Libertad y Progreso Foundation showed in September an increase of eleven% monthly. Regarding the interannual variation, it amounted to 134.6%, the highest value since August 1991 (144.4%).

Meanwhile, the accumulated inflation in the first nine months of the year would have been 100%. In this way, it would be the highest accumulated since the hyperinflation of 1990.

Workers’ inflation returned to double digits in September 2023

On the other hand, a report prepared by the Institute of Workers Statistics (IET) of the Metropolitan University for Education and Work (UMET) and the Center for Concertation and Development (CCD) revealed that the inflation of workers reached the 11.5% in September.

With this brand, the increase in prices was around 100.7% in the first nine months of the year. Meanwhile, the interannual variation reached 135.6%.

“If inflation averaged 10% monthly in the remaining three months of the year, the accumulated inflation for 2023 would be 167.1%”the document indicated.

Food inflation

Regarding the category that has the most weight within the CPI, according to the consulting firm Focus Market, food prices rose by 12.8% average during September, with some items accumulating increases of almost the 300% in the last 12 months.

According to the survey, all mass consumption categories presented double-digit increases last month, with food being one of the most affected by the price increase. Added to the list are Beverages 11.8%, Personal Care 15.3% and Cleaning 17.8%.

LD/ED

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