UNSTOPPABLE. Clothing and footwear prices in Argentina increase more than 100%
According to the INDEC -National Institute of Statistics and Censuses-, the sector "clothing and footwear" accumulated a year-on-year increase of 110.5% in Buenos Aires Metropolitan Area.
The data released by the institute indicated that in the month of July the increase was 8.5%, adding an increase of 56.5% so far this year. Meanwhile, in the last twelve months growth was 96.7%, close to 100%.
Clothing prices rose more than 25 points above average inflation.
In the case of Buenos Aires Metropolitan Area, measuring the increases in the clothing and footwear segment, the index was in triple digits: 100.5%.
According to opinions and statements from several Argentine consultancy firms, inflation could close the year at 100% or more. One of the latest surveys by the Central Bank on the Expectations Survey showed an estimated inflation of 90.2%.
In government circles there is concern with the local clothing industry, especially with apparel manufacturers, since despite having been protected with restrictions on imports "prices do not stop rising".
Although the increase in international prices of energy, raw materials and supplies is recognized, plus the rise in the exchange rate, it is considered that there is a mess in the pricing policy.
Based on the figures distributed by INDEC, Data Macro consultancy firm exemplified through a graph, different indices by country:
CLOTHING PRICE – July 2022
_COUNTRY_ |
_OVERALL INFLATION %_ |
_CLOTHING INFLATION %_ |
Argentina |
71 |
96.7 |
Brazil |
10.1 |
17.1 |
Uruguay |
9.4 |
6.5 |
Paraguay |
11.1 |
4.3 |
Chile |
13.1 |
-0.3 |
Colombia |
10.2 |
3.4 |
Mexico |
8.2 |
5.6 |
Bolivia |
2.1 |
1.7 |
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