In March, Argentina’s inflation rate hit 5.4%

After the jump of the wholesale prices in December following the devaluation, the indicator marked its third month of slowdown in March, with a 5.4% decrease compared to February. This was below the Consumer Price Index (CPI) of 11% recorded by Indec last month. The data supports the Government’s claim that inflation will be in single digits in April.

The general level of the Domestic Wholesale Price Index (IPIM) advanced as a result of a 6.2% rise in national products, partially offset by a 1.7% decrease in imported products. This decrease in imported products is a key sign for the decrease in the cost of living. The interannual variation was 330.6%.

Wholesale inflation marked its third consecutive month of deceleration, after reaching 10.2% in February and 18% in January, following the peak of 54% in December. The first quarter closed with an increase of 37%.

The purpose of the IPIM is to measure the average evolution of the prices of products of national and imported origin offered in the domestic market. Similarly, the general level of the Basic Domestic Price Index (IPIB) showed an increase of 4.9% in the same period, with an explanation of the variation in domestic and imported products.

The general level of the Basic Producer Price Index (IPP) recorded a 5% increase last month, with a rise in primary products and manufactured products. The tax treatment is the same as in the IPIB, and the PPI measures the average variation of the prices received by the local producer.