The Domestic Wholesale Price Index (IPIM) experienced a slight decrease in March, marking its third month of slowdown. This was a 5.4% decline compared to February, below the Consumer Price Index (CPI) of 11% recorded by Indec last month. Despite this, the Government remains optimistic that inflation will remain in single digits in April.
The IPIM’s general level advanced as a result of a 6.2% rise in national products, partially offset by a 1.7% decrease in imported products. The interannual variation was 330.6%. This decrease in imported products is a key sign for the cost of living and indicates that domestic products are becoming more affordable.
Wholesale inflation has been on a downward trend for three consecutive months, with a peak of 54% in December following the devaluation. In February, it reached 10.2%, and in January it was at 18%. The first quarter closed with an increase of 37%.
The purpose of the IPIM is to measure the average evolution of the prices of products of national and imported origin offered in the domestic market. Similarly, the general level of the Basic Domestic Price Index (IPIB) showed an increase of 4.9% in the same period, with an explanation of the variation between domestic and imported products.
The Basic Producer Price Index (IPP) recorded a 5% increase last month, with rises in primary and manufactured products. The tax treatment is the same as in the IPIB, and the PPI measures the average variation of prices received by local producers.
