The rise in wholesale prices was driven by a 3.8% increase in “domestic products,” while “imported products” showed no change.Wholesale prices continu
The rise in wholesale prices was driven by a 3.8% increase in “domestic products,” while “imported products” showed no change.
Wholesale prices continued to decelerate in April, rising by 3.4%, well below the inflation rate for the same period (8.8%). However, they accumulated an increase of 316.5% over the past 12 months, as reported by INDEC on Friday.
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The increase in wholesale prices was driven by a 3.8% rise in “domestic products,” while “imported products” showed no change.
This data suggests that inflation continues to slow down, and May could see further decreases.
On another note, the overall level of the Internal Basic Wholesale Price Index (IPIB) rose by 2.9% during the same period.
In this case, the variation is explained by a 3.1% increase in “domestic products,” partially offset by a 0.2% decrease in “imported products.”
Additionally, the overall level of the Producer Price Index (IPP) recorded an increase of 3% during the same period, driven by a 2.7% rise in “primary products” and a 3.1% increase in “manufactured products and electricity.”
In this scenario, the S&P Merval in Buenos Aires lost 1% after three consecutive gains, although it remained close to its peak level in pesos of 1,505,7118.3 units recorded last week.
The day’s declines were led by Central Puerto (-3.5%), BBVA Bank (-3.2%), and Cresud (-3.2%).
Meanwhile, Argentine stocks traded on Wall Street closed mostly lower. Additionally, dollar-denominated bonds fell by up to 1.8%, with the country’s risk premium rising by eight units to 1,261 basis points.
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