Food prices have risen by up to 70% over last three months

A new report says that food prices in Argentina have risen by as much as 75 percent in just the last three months.

According to a report by the ISEPCI Social, Economic and Citizen Policy Research Institute, the sector recording the biggest rise in the Basic Food Basket came from grocery products (75.16 percent), followed by fruits and vegetables (68.95 percent) and meats (62.01 percent).

In the meantime, according to a monthly survey of 57 basic products tracked by the ISEPCI in its neighbourhood price index (covering 850 shops across 20 districts of Greater Buenos Aires), in February food rose by 14.12 percent.

A family of two adults and two small children in November 2023 needed 182,905.48 pesos to provide sufficient food for 30 days, said the institute. Three months on, in February, the same family required 310,431.58 pesos to buy these same products (+69.72 percent).

Looking at the values of the Total Food Basket, which in addition to food takes in a wider universe of products that are equally essential for everyday life (healthcare, education, transport, household rates, among others) the same family of four which in November needed 393,243.07 pesos, in February needed 665,011.27 pesos – a difference of 261,768.20 pesos (+66.57 percent) to cover the same expenses, the report specified.

– TIMES/NA