Weekly inflation: Economy reported that it was 1.7% and described that prices are “in clear decline”

The Secretariat of Economic Policy published this morning the inflation of the third week of September, which according to the survey carried out by the ministry marked 1.7%. The Deputy Minister of Economy, Gabriel Rubinstein, stressed that prices are “in clear decline” through his social networks. In the second week of September, the measurement made by the Economy Ministry was 2% and they stated that this number “would be showing a slowdown compared to the previous period.”  Within the graph shared by the portfolio led by Rubinstein, it can be seen that after the devaluation, in the last five weeks there was a downward trend in prices. The price variation showed peaks of 4.8% and 3.8% in the second and third week of August while from August 27 to September 3, prices varied 2.5%, to then yield to 2.1% and 2%, respectively. It should be noted that after the record inflation figure in August that reached 12.4%, the Government decided to publish weekly the evolution of consumer prices. These measurements do not replace the official inflation data released by the National Institute of Statistics and Census (INDEC) on a monthly basis, but seek to show that the escalation of prices that occurred after the primary elections, is slowing down. According to the Secretariat of Economic Policy, the survey is based on online prices in supermarkets and other marketing channels of a representative basket of food, beverage, cleaning, personal care, appliances and clothing products. The prices published on various websites of cars and medicines are taken into account and an online survey of goods and services with regulated prices at the national level is made. In addition, estimates are adjusted considering gaps by marketing channel in items such as food and beverages.

Original source in Spanish