By Hernan Nessi
BUENOS AIRES, Feb 13 (Reuters) – Argentina’s consumer price index (CPI) is estimated to have risen 6% in the first month of 2023, after hitting 5.1% in December, according to the median of a Reuters poll.
The analysts consulted explained that the jump in inflation would be mainly due to price increases for household services and transport.
Projections from 20 local and foreign analysts also showed an average advance of 5.9% for January’s CPI.
Inflation in January was “mainly driven by increases in regulated items”. In this sense, the highest impact came from the “housing, electricity, gas and other fuels” division due to the increase in electricity, gas and water tariffs in the AMBA (Federal Capital and surroundings),” said Isaías Marini, an economist at consultancy Econviews.
“Janvier also noted the impact of the adjustment of public transport fares in AMBA (by far the region with the greatest weight in the index) and the increase in fuels (both in the Transport division), health and telecommunications,” he added.
Argentine Economy Minister Sergio Massa said in an interview in December that his goal was to achieve inflation below 4% in April, a figure that seems far from private estimates, which forecast values of around 5% for the first months. . of 2023.
“Inflation once again escapes the parameters managed by the government and demonstrates the inability of price control,” said Lautaro Moschet, economist at the Libertad y Progreso Foundation.
And he added that “at the moment there is no theoretical reason to think that inflation will come down and the uncertainty of an election year may even make the situation worse.”
Analysts’ estimates ranged from a low of 5.2% to a high of 6.5% for inflation in January.
The National Institute of Statistics and Censuses (INDEC), according to its publication schedule, will publish official inflation data for the first month of 2023 on Tuesday afternoon. (Reporting by Hernán Nessi: editing by Walter Bianchi)