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ECONOMY | 05-04-2023 14:37

Buenos Aires City recorded 7.1% inflation in March

Prices in the nation’s capital have risen 21.8% in first quarter of the year and by 105.5% over last 12 months.

Inflation in Buenos Aires City hit 7.1 percent in March, with prices up 21.8 percent in the first quarter of the year, according to City Hall data.

Over the past 12 months, inflation totals 105.5 percent in the nation’s capital, a rise of 2.4 points on the annualised measure given the previous month.

March’s increases were led by large hikes in food and non-alcoholic beverages, housing, water, electricity, gas and other fuels, education, transport, health and clothing and footwear, the Buenos Aires City government said, adding that those categories accounted for 77.5 percent of the increase on the general level.

According to official data, food and non-alcoholic beverages averaged a rise of 9.1 percent, led by large increases in meat and meat products (12.6 percent), vegetables etc. (11.2 percent) and fruits (10.9 percent).

Housing, water, electricity, gas and other fuels increased by 6.3 percent, mainly due to the impact of increases in rent prices. This was followed in importance by adjustments in the values of common housing expenses, together with increases in the residential billing of for water supply and natural gas.

Education averaged a rise of 23.2 percent, as a result of increases in the fees of educational establishments.

 

– TIMES/NA

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