US EditionWholesale Prices Had Deflation of 0.3% in May, Something that Had Not Happened Since 2008
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18 Articles
The president of Argentina, Javier Milei, obtained another economic victory on Tuesday, June 17, after the data showed that wholesale prices fell in May for the first time since the peak of the pandemic, which added to his momentum before the mid-term elections in October. The producer price index (IPP) fell 0.3 percent since April and rose 22.4 percent year-on-year, according to data from the National Institute of Statistics. This represents a …
The lowest year-on-year variation since December 2017 was also recorded. Imported products fell by 4.1%
After the 1.5% figure in May, the presidential spokesman said that inflation “is doomed to die” and that the problem will be a thing of the past in the next 12 months.
In May, the internal wholesale price index (IPIM) recorded a 0.3% drop compared to the previous month, driven mainly by the 4.1% drop in imported products and an almost zero variation in domestic products. This was reported on Tuesday by the National Institute of Statistics and Censuses (INDEC), which further elaborated that this is the first monthly negative variation since the beginning of the current series in January 2016. Among the national…
They dropped by 0.3% in May, according to Indec. Although by 2020 they had already exhibited deflation, even greater, if the year of the pandemic is excluded, it is necessary to go back to 2008 to find a similar result.It was key the strong decrease of imported products The wholesale price index noted a decrease [...] The post Wholesale prices recorded the greatest deflation since 2008 appeared first on Trade and Justice.
The INDEC showed a deflation of 0.3 percent, driven by a 4% collapse in products that come from abroad and condemn local industry.
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