Wholesale prices increased 10.2% in February and 329.1% year-on-year

According to the National Institute of Statistics and Censuses, wholesale prices rose 10.2 percent in February and showed a slowdown, after having risen 18 percent in January. This anticipates lower inflation for March, according to the consultancies. The variation in prices is the result of an increase of 11.0% in “Domestic Products” and 2.7% in “Imported Products”. On the other hand, the general level of the Basic Domestic Wholesale Price Index (IPIB) showed an increase of 8.9% in the same period. In this case, the variation is explained by the increase of 9.6% in “Domestic Products” and 2.6% in “Imported Products”. At the same time, the general level of the Basic Producer Price Index (PPI) registered an increase of 8.7% in the same period, as a result of the 5.7% increase in “Primary Products” and 9.9% in “Manufactured Products and Electric Energy”. The cost of construction rose 6.4% in February 2024 Meanwhile, the general level of the Construction Cost Index (CCI) in Greater Buenos Aires corresponding to February 2024 registered an increase of 6.4% compared to the previous month, according to INDEC. This result is the result of an increase of 6.3% in the “Materials” chapter, 1.9% in the “Labor” chapter and 26.9% in the “General expenses” chapter.

Original source in Spanish