March’s inflation price, which was 7.7% according to the National Institute for Statistics and Census (INDEC), was “extremely higher,” according to a communiqué released by Financial Organizing Secretary Gabriel Rubinstein.

In the press release, Rubinstein highlighted “particular aspects” of this month’s inflation, operating via a selection of sector increases which he mentioned the government hoped would not be present the subsequent month.

“That way, we hope for a reduce of a particular magnitude in the common index,” Rubinstein wrote, referring to April’s inflation price.

Having said that, April will see a new round of planned increases in electrical energy prices, collectively with increases in housekeeping solutions, buses, trains, private healthcare, and private schools.

Amongst the causes of this year’s inflation, Rubinstein named “the drought, the higher temperatures, and the bird flu.”

“They generated the most significant effect on [the price of] fruits, vegetables, beef, chicken and eggs, which collectively improved by two.1 percentage points in March’s inflation.”

Rubinstein also highlighted previously-anticipated seasonal increases —like regulated goods and solutions, education, fruit, clothes, and vegetables— as portion of this month’s higher inflation figures.

“We will maintain attempting to reduce inflation, combining fiscal and monetary policies that maintain becoming constant with considerably reduce inflation prices,” Rubinstein mentioned. “We will combine that with revenue policies (agreements with firms and othes) that support to curb the inertial elements of higher inflation prices.”

Trade Secretary Matías Tombolini also chimed in. 

“The inflation figure that was produced identified currently hurts us,” he mentioned in a press conference. “Minister Massa, understanding that inflation is a multi-causal phenomenon, place collectively a clear roadmap anchored in fiscal order, reserve accumulation, and value applications.”

“However, we fully grasp that this, so far, has not been adequate.”

Tombolini also accused “price makers” (top firms in their regions) of not complying with the Precios Justos (Fair Costs) value agreement. 

“We are going to strengthen the strictness in the handle of value markers by operating with municipalities and provinces, as we have been undertaking,” he mentioned. Tombolini also announced a new value agreement with exporting firms which will facilitate their access to dollars at the official price.

March’s 7.7% inflation index, announced earlier currently, was the highest month-to-month figure because April 2002.

[Updated April 14th, 20:25 to include statements from Trade Secretary Matías Tombolini]

By Editor

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