According to MENAFN, Argentina’s wholesale sector saw a 2% inflation rise in September, which is lower than the increase in consumer prices. The year-over-year inflation rate for wholesale prices reached 197.3%, as reported by the National Institute of Statistics and Census (Indec).
This monthly price index mirrors the 2% devaluation of the Argentine peso against the dollar, set by President Javier Milei’s government and the Central Bank of Argentina (BCRA).
Wholesale prices have accumulated a 61.5% increase in 2024, considerably less than consumer prices. Indec noted this gap between wholesale and retail inflation.
Year-over-year, electricity prices surged by 378.1%, while primary products rose by 215.3%. Specifically, crude oil and gas increased by 265.5%.
Agricultural products saw a 189.7% rise, and non-metallic minerals went up by 172.6%. Refined petroleum products had the highest inflation in the manufacturing sector with a 309.8% increase.
In the wholesale segment, food prices climbed 199.7%, and textiles rose by 131.2%. Electricity prices have been heavily impacted, with a 310.7% increase this year.
So far, food prices have risen by 77.1%, primary products by 85%, fishery products by 102.2%, and crude oil and gas by 106.6%. In contrast, imported products have only seen a 6% increase this year, showing the significant effect of domestic factors on inflation rates.
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