Argentina’s Wholesale Inflation Aligns with Official Dollar Increase at 2% Monthly

Argentina’s wholesale sector experienced a 2% monthly inflation rate in September, falling below the consumer price index increase. The year-over-year inflation for this segment reached 197.3%, as reported by the National Institute of Statistics and Census (Indec) on Thursday.

The monthly price index for major categories aligned with the 2% monthly devaluation of the Argentine peso against the dollar. This rate was set by President Javier Milei’s government and the Central Bank of Argentina (BCRA).

So far in 2024, wholesale price increases have accumulated 61.5%, significantly lower than consumer price variations. The state entity reported these figures, highlighting the disparity between wholesale and retail inflation rates.

On a year-over-year basis, the sectors with the highest price increases as of September were electricity, rising by 378.1%, and primary products, increasing by 215.3%. Among primary products, crude oil and gas prices surged by 265.5%.

Agricultural products saw a 189.7% increase, while non-metallic mineral products rose by 172.6%. In the manufacturing sector, refined petroleum products had the most significant inflationary impact, with prices climbing 309.8%.

Food prices in the wholesale segment increased by 199.7%, and textiles by 131.2%, according to Indec’s detailed report. The cumulative wholesale inflation for 2024 has strongly affected electricity prices, with a 310.7% increase in the first nine months.

Food prices in this segment have risen by 77.1% in the last nine months. Primary products increased by 85%, fishery products by 102.2%, and crude oil and gas by 106.6%.

In contrast to these sharp increases, imported products have only risen by 6% so far this year, according to the state entity. This stark difference highlights the impact of domestic factors on inflation rates.

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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief