According to the UMET, inflation for April was 8 percent. The rise was driven by Housing (12.3 percent), driven by the 23 percent increase in electricity. In second place are Communications and Food and beverages, with 8.7 percent. “The glass is half full is the growth of employment: for the first time, the 6.3 million registered private wage earners were exceeded and there are several sectors that are at an absolute employment record, such as oil and mining, commerce, software, and hotels and restaurants” , indicates the report.
For the director of Center for Concertation and Development (CCD), Nicolás Trotta, “We must seek that the IMF makes the goals more flexible and makes a disbursement for the climate emergency. Inflation in April is the highest since April 2002, when it exceeded 10 percent after the inflationary jump derived from the exit of Convertibility” .
Inflation reached 30.2 percent in the first quarter, figure that if annualized becomes 120 percent. Meanwhile, interannual inflation, that is, against the same month of the previous year, reached 107.9 percent and showed the fifteenth consecutive acceleration.
For the coordinator of the report, Fabián Amico, “the result of the April survey follows the same worsening patterns that we noticed in the previous measurements. On the one hand, a acceleration of the rate of devaluation of the official exchange ratel, stimulated by the drought and the meager results of the Soybean Dollar 3, in a context of a dramatic decrease in reserves”.
“For the other, the reduction of subsidies committed in the program with the IMF, which leads to increases of 23 percent in electricity and therefore impacts the Housing category. In turn, the shortening of the adjustment period of all contracts stimulates a greater inflationary acceleration and leaves the economy virtually without nominal anchors,” adds Amico.
