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last mo.

Argentina Wholesale Prices Jump 2.8% in July as Stronger Dollar Lifts Import Costs

The faster wholesale rise than consumer inflation heightens the risk of pass-through to retail prices in the next couple of months.

Las viguetas es uno de los productos que Holcim suma con la compra de Tensolite. (Gentileza Holcim)
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La inflación mayorista de julio resultó ser más alta de lo esperado.
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Overview

  • INDEC reported the IPIM rose 2.8% month over month in July, with imported goods up 5.7%–5.8% and domestically produced goods up 2.6%–2.8%.
  • Wholesale inflation outpaced July’s CPI reading of 1.9%, bringing the wholesale index to 12.3% year to date and 20.9% over 12 months.
  • Outlets linked the imported-goods jump to a July increase in the official dollar, estimated around 7% on average in mid-month comparisons and higher in some measures.
  • Other wholesale gauges also accelerated, with both the IPIB and the IPP increasing about 3.0% in July.
  • Key domestic drivers included agriculture, chemicals, refined petroleum, motor vehicles and parts, and food and beverages, while economists caution that August–September CPI could face pressure even as authorities tighten monetary conditions.