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Wholesale prices already accumulate an increase of more than 70% in 2018



INDEC data

In addition, according to official information, construction prices have already accumulated an increase of 35.5 percent so far this year

Inflation acceleration in recent months has prompted prices to accumulate a significant increase so far in 2018.

The relevant figure in this framework is the Wholesale Price Index, which increased by 3% during October. Meanwhile, construction costs rose 2.2 percent, according to the National Institute of Statistics and Census (IDEC) on Wednesday.

With these increases, wholesale prices have so far increased by 71.1%, while those in construction have advanced 35.5%.

Wholesale prices

In a scenario with the weakest dollar and the strongest recession, a 3 percent increase in wholesale prices means deceleration compared to previous months, such as September, when they increased by 16 percent.

In the last twelve months, the wholesale price index system increased by 76.6%.

The increase in October was due to the 3.6% increase in domestic prices and a decline of 2.9% in imports, which in September grew by 24.2%.

The wholesale price indicator slowed down dramatically compared to last September, when it reached a peak of 16 percent, the highest figure from the current government that took office and is the first double-digit monthly leap from 2011, according to INDEK statistics.

The price index of the wholesale prices on the domestic market (IPIN) reached an accumulated increase in the year of 71.1% in October and thus amounted to 31.6 percentage points above the differences in retail prices in that period, which was 39.5% .

In the inter-national measurement, wholesale prices reached an increase of 76.6% and thus 30.7 percentage points above the Consumer Price Index (CPI) in that period of the last twelve months.

The sharp drop in consumption levels means that this difference can not be fully transferred to retail prices, but is expected to gradually merged in the coming months, as retail price inflation is decreasing, according to market analysts.

The difference reflects the adjustments to the last devaluation, which has not yet been fully transferred to the cost of living.

The index of wholesale basic prices on the domestic market (IPIB) in October increased by 2.5% compared to September, increasing 74.4% during the year and 79.8% in the last twelve months.

The index of the basic products of producers (PIU) in October registered an increase of 2.6% and reached 74.1% in the annual accumulated and 79.6% in the last twelve months.

CONSTRUCTION

Meanwhile, construction costs increased by 4% in materials prices, 2.5% in general costs and 0.7% in the workforce.

With this information, INDEC completed the distribution of price indices, which began last week when it announced that the population's inflation in October was 5.4%, and accumulated an increase of 39.5% in the year..

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