Consumer prices in the City of Buenos Aires increased 3.6% during March compared to February according to the latest release from the economic consultants FIEL. This is the first drop this year following the increases in January and February which were above 5%.
Food and Beverage was the item with the largest incidence, having increased 4.1%. Prices of fresh vegetables and fruit had the most influence, while there was a modest decrease from some frozen produce.
Leaving aside January and February you have to look back to 2010 to find a monthly rate above 3%. The deceleration of prices in recent weeks will anyhow have a March pull factor into April in the range of 0.6%, points out the report.
Nevertheless in the last twelve months inflation according to FIEL reached 37.5%.
Sometime next week other market consultants will be making public their estimates for March while the official stats office Indec, should do so next 15 April.