Wholesale prices rose 1.6% in November compared to the previous month, representing an annual variation of 24.3% and a cumulative variation in the first 11 months of 23.2%, INDEC reported.
After peaking at 3.7% in September, the domestic wholesale price index (IPIM) fell to 1.1% in October.
The monthly increase is a result of the 1.8% increase in “Domestic Products” and the 0.6% decrease in “Imported Products”.
Within “National Products,” the departments with the highest incidence in the IPIM were “Agricultural Products” (0.51%), “Refined Petroleum Products” (0.41%), “Food and Beverages” (0.30%) and “Motor Vehicles, Body and Spare Parts” (0.21%). “Crude oil and gas” had the greatest negative impact (-0.55%).
On the other hand, the general level of the Internal Wholesale Price Index (IPIB) increased by 1.3% during the same period, due to the 1.4% increase in “Domestic Products” and the 0.5% decrease in “Imported Products”.
The Basic Producer Price Index (IPP) recorded an increase of 1.4% in the same period, driven by the 0.4% decrease in “Primary Products” and the 2.1% increase in “Manufactured Products and Electrical Energy”.
CEPEC claims that in the coming months “we will have to closely monitor the impact of the new exchange rate system with inflation-adjusted bands.”
“If the dollar moves towards the upper part of the range, this could lead to an increase in wholesale prices of imported products, creating a new source of pressure. Nevertheless, everything indicates that the determining factor will continue to be the evolution of internal costs, which today explain most of the dynamics of the IPIM,” they added.
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