The National Institute of Statistics and Censuses (INDEC) has reported that in February, the Internal Wholesale Price Index (IPIM) increased by 1.6%, while on a year-on-year basis, there was a 32.7% increase. This monthly rise was driven by a 1.7% increase in "Domestic products" and a 0.5% increase in "Imported products".
Among the national products that had the most impact on the index variation are agricultural products (+0.43%), food and beverages (+0.29%), refined petroleum products (+0.25%), tobacco (+0.12%), and motor vehicles, bodies, and parts (+0.10%).
Moreover, other wholesale indices also showed increases in February. The Basic Internal Wholesale Price Index (IPIB) showed a variation of 1.9%, with a 2% increase in domestic products and a 0.5% increase in imported products. On the other hand, the Basic Producer Prices Index (IPP) reflected a 2.1% increase, driven by 3.2% increases in primary products and 1.7% in manufactured products and electricity.
In annual terms, wholesale indices continue to rise: IPIM +32.7%, IPIB +30%, IPP +32.9%. So far this year, these indicators have cumulative increases exceeding 3%: IPIM +3.2%, IPIB +3.5%, IPP +3.9%. This growth could translate into higher costs for industries and businesses, which could eventually reflect in consumer prices in the coming months.
