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Inflation: Consultants Estimate Food Rise Above 6% in August

A man pushes a shopping cart through a supermarket in Buenos Aires. Argentina. File photo May 4, 2022. REUTERS/Agustin Marcarian

At the end of the month, economic advisers closed their estimates of food price increases in August with increases above 6%. According to EcoGo, food eaten at home saw a 5.9% increase, while food eaten away saw an increase of 8%, pushing this category up from 6.2%.

From consultancy Focus Market, which measures price changes in supermarkets and stores through barcode scanners, they estimated that food was up 6.4% on the same month of previous year on the basis of 682 relieved products.

In the case of food and beverages, the average inflation is 6.4%, with many categories in the double-digit range of monthly increases (Di Pace)

“Inflation for August is on the podium of the three highest of the year with an average of 6.2% driven by health, transport and leisure. In the case of food and beverages, average inflation is 6.4%, with many categories in the double-digit monthly range. And to the extent year-over-year, many products in the basic basket that end up in a three-digit price swing,” explained Damien DiPaceDirector of Focus Market Consulting.

Among the categories of products whose price increased the most in August compared to the same month of the previous year, sugar (193.8%), paper towels (153.6%), eggs (145 .9%), toilet paper (145.5%), diapers (136.3%), cereals (135.6%), mayonnaise (134.8%), fernet (129.3%), soap toilet (125.1%) and premixes (122.4%).

Food increased by more than 6% in August
Food increased by more than 6% in August

At the same time, the product categories that increased the most between July and August were sugar (30%), paper towel (21.4%), puree (19%), eggs (18.8%) , canned fish (18.4%), toilet paper (17.2%). %), premixes (15.2%), deodorants (14.1%), hair care (13.7%) and cream milks (13.6%) .

“Inflation will weigh on the macroeconomic imbalance, to which is added the correction of regulated prices in the economy, such as utility prices. This places a high floor on inflation for the coming months, which could end with 95% inflation. The big challenge is not to reach three figures of average inflation, although several elements of the economy are already at these values ​​in August, such as clothing, footwear, hotels and restaurants,” Di explained. Pace.

The price survey carried out by Free Consumers showed that 21 products in the basic food basket recorded a rise of 2.9% in the first half of August.

On the other hand, the price survey carried out by Free Consumers, the consumer association headed by Hector Polinoshowed that 21 basic food basket products experienced a 2.9% increase in the first half of August and the cumulative increase so far this year is 47.18%.

Some of the increases recorded in the first two weeks of the month: sunflower oil of one and a half liters (1.28%); one kilo of rice (2.38%); sugar a kilo (10%); noodles for 500 grams (10.26%); wheat flour (2.44%); dozen eggs (12.5%); a kilo of fresh bread (5%); bagged milk (4.65%); weeds per kilo (1.92%).

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