Friday , January 27 2023

Recorded inflation: wholesale prices grew by 73.5% in 2018, highest in 16 years



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Recorded inflation: wholesale prices grew by 73.5% in 2018, highest in 16 years

The value of inputs increased due to the rise in the dollar, which had an impact on imported agricultural products, products and energy.

Wholesale input prices grew by 73.5% in 2018, more than 25 percentage points higher than the general index. Decrease in raw material values ​​was explained by devaluation, which increased the cost of products from the field, imported and energy supply.

According to figures published by Indec, this annual growth is the highest since 2002, the first year after the convertibility, where wholesale prices grew by 77%.

The Statistical Agency reported that the most significant changes in wholesale prices in 2018 were recorded in the cost of electricity, with an increase of 54.1%, in imported products 104.8%, manufactured products increased by 68% and Primary 82.7%.

The devaluation of the peso, which prompted the dollar to cost more than $ 40 toward the end of August, has accelerated input prices. In September, the most inflationary month, it recorded a 16% rise in the wholesale price index. The overall CPI in the same month was 6.5%, also recorded in 2018.

The agency also reported that the cost of construction increased by 3.3% in December, so this year added an increase of 44.8%. Meanwhile, construction costs recorded advances of 61.6% in materials, 35.1% in work and 40.3% in overhead.

(Source: TN)

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