The price of food in Argentina showed an increase of 0.8% during the first week of March. Baked goods and pasta rose by 0.6%, while oils increased by 0.5%. Meanwhile, meats, which had experienced a significant increase in February, rose by 0.2% in the first days of March.
These figures represent the first price evolution of March, and it is expected that the National Institute of Statistics and Censuses (INDEC) will reveal that inflation in February was between 2.2% and 2.7%. This increase would complicate the situation of domestic prices since the official devaluation rate is 1%, impacting the cost of local production.
The weekly report conducted by the consulting firm LCG indicates that, as a result of the behavior in February, the average of the last four weeks reflected a cumulative increase of 3.2%. At the beginning of March, dairy led the rise with an increase of 4.2%, followed by "condiments" with 2% and fruits and vegetables with an increase of 0.9%.
In the words of the consulting firm LCG: "The rise in food prices is driven by dairy at the start of March, while meat prices remained stable." These data reflect the ongoing inflationary pressure affecting consumers' wallets and the economy in general.
