(MENAFN – The Rio Times) In September, Argentina’s wholesale inflation was 2%, lower than the consumer price index. Year-over-year wholesale inflation reached 197.3%, according to the National Institute of Statistics and Census (Indec).
This monthly increase matched the 2% devaluation of the Argentine peso set by President Javier Milei’s government and the Central Bank.
In 2024, wholesale prices have risen 61.5%, but this is significantly lower than retail inflation. Indec reported a wide gap between wholesale and retail prices.
The biggest price jumps from September were in electricity (378.1%) and primary products (215.3%), with crude oil and gas up by 265.5%. Agricultural products rose by 189.7%, and non-metallic minerals by 172.6%. Refined petroleum prices increased by 309.8% in manufacturing.
Overall, wholesale food prices increased by 199.7%, and textiles by 131.2%. Notably, electricity prices surged by 310.7% in the first nine months of 2024. In contrast, imported goods have only risen by 6% this year, indicating the impact of domestic factors on inflation.
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