This Thursday, the National Institute of Statistics and Censuses (INDEC) will disseminate the inflation data corresponding to the month of June and in the Government, especially in the Ministry of Economy led by Sergio Massatrust showing a slowdownin the context of the electoral campaign on the way to the PASO of August.
In addition to national authorities, private consultants also estimate, to a lesser or greater extent, a slight drop in the Consumer Price Index (CPI)which will be known today at 4:00 p.m. However, this decline, more than a control of the inflationary process, would respond to a decrease in the level of activity.
From the Palacio de Hacienda, with Massa at the helm, they anticipate that after the price escalation registered in April and May, the June number would have fallen below 7%the cruising speed of the increase in the cost of living in this second quarter.
They spread the inflation of June: what number do the consultants expect?
Regarding private estimates, the average of the consultants projects inflation in the range of 7.2%/7.4% for the last month, which would confirm a change in the trend, although less than what is claimed by the Economy.
As revealed by the Noticias Argentinas agency, in the ministry led by Sergio Massa, current candidate for President of Unión por la Patria, they are confident in achieving a mark that begins with “6”a number that would be used to strengthen the official discourse on prices.
The drop, believe both the Government and the consultants, would be explained for a lower increase in foodof special impact on the final data and, at a social level, in low-income sectors.
In this line, private works showed that products such as beef or the polloof massive consumption in our country, rose less than in previous monthswhen they used to lead the monthly increases.
On the contrary, in June, the largest increases were perceived in terms of the household spending, plus rent and utilities, according to what the market estimates revealed.
They disseminate the inflation of June: how is the evolution of prices in July?
The first works carried out on inflation in July would indicate that the downward trend would have continuedat least during the first week of the current month.
However, the consultants explained, the slowdown, which began in May, would correspond to a decrease in consumption and a lower level of activityproduct of the loss of purchasing power of wages.
The Salary Council meets this Thursday to define increases in the minimum, vital and mobile
Parallel to the dissemination of the CPI data, which will take place this afternoon at 4:00 p.m., a new meeting of the Salary Councilwith the objective of defining increases in the minimum, vital and mobile, outdated by the inflationary process of recent months.
The Ministry of Labour, in charge of Kelly Olmoslaunched the call to business and union leaders to find “a common proposal” increase in the minimum wage.
The current amounts of the SMVM and for unemployment fThey were last decided on March 21so that from April 1 of this year the minimum was 80.342 pesosin May increased to 84,512 and, in June, to 87.987 pesos.
In this way, the objective of the Government would be to agree on a rise in wages that would contain the loss of purchasing power and clear up doubts about an eventual cooling off of the economy, almost exactly one month before the primaries on August 13.