You heard it on No Te Duermas
In the usual economics and finance column of the radio program, Darío Banga analyzed the new value of the basic basket and that of inflation.
Tomás Modini
@ModiniTomas
The value of the basic basket
At the beginning of the economics column on No Te Duermas, Darío Banga referred to the basic basket which, in the month of July, indicated that a family needed $900,647 to not be poor: “The basic food basket as well as the total basic basket, which measures poverty and indigence, is composed of a certain amount of products that are monetized and generate that salary coefficient that is needed to get there. For example, the food basket is the caloric foods that are essential to be able to live. Obviously, not all of us eat what is essential to live, it is made up of a specific basket, but if one analyzes it a little more, the number can be higher.”
“In the case of fruits and vegetables, they take as a reference the value of the central market and not that of the greengrocer in the Chinese supermarket, which is perhaps double when you go to buy it, everything can vary. In the basic food basket, the rates are not included because it only includes food. In the total basic basket, it is taken into account because it includes services, it is food and services. It includes clothing, the cost of the SUBE card,” he specified.
Then he detailed how the measurement is done: “to obtain the food coefficient, it is as follows. Bread is taken at 750 grams, crackers at 450 grams, sweet biscuits at 210 grams, rice at 1200 grams, wheat flour at 1080 grams, other corn flours at 210 grams, noodles at 1700 grams, potatoes at 6500 grams, sweet potatoes at 510 grams, sugar at 1200 grams.”
The specialist added that “the measurement is very precise” and that “that is what the basket takes in general, it is the measurement that INDEC has.”
What about inflation?
Regarding the inflation data, which showed almost 4 percent in the month of July, he said: “I do not see it as a celebration by the government, first because of this particular situation. Adorni said that inflation is a finished issue for the government. I do not see it that way. The government wants to bring the core inflation as low as possible and in the month of July it is close to 4 percent. They wanted it close to 2 and that tells them that the floor is 4. The seasonal and regulated components go above that 4.”
“It is not a finished issue, quite the opposite because the core inflation rose. I do not see it as a celebration, but rather a hype that is being thrown to the stands to avoid seeing reality. The government is having dollar problems and is having other problems such as the value of soybeans which is at the lowest values that existed,” he said.
On this last issue, he pointed out that “it is very low and that is a headache because on top of that they are not liquidating it, the little that they liquidate is done at a low price” and that “they have a big reserve problem.”
“Milei tweeted saying that in the end the cepo is not so bad. So it turns out that she is opening the umbrella because the cepo is not healthy for a community. Milei knows that she will not be able to get out of the cepo, she does not have enough dollars and that is the problem she is having,” she said.
Closing the first section, the economist added: “There is also a need to lower the retentions for the primary sector, which is asking for it, and the government has already said that they cannot and that they will see if they can take some measure later. There is no such measure in sight, so there is the primary sector that is not paying and there is a problem with the inflow of dollars.”
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