September begins and as every month the increases in various areas of the economy are updated that accompany the inflationary level.
After the post-PASO devaluation, many prices skyrocketed and the Government came out to negotiate with various items so that prices could be brought back and the pass through devaluation does not impact so quickly and intensely on prices.
Nevertheless, the projections for August give the general price level above two digits and the projection for September follows the same line.
Some increases that have been taking place month by month, such as prepaid medicine or gasoline, will not be in September as a result of government decisions, as in the case of the prepaid ones reported on Sunday by the minister-candidate, Sergio Massa, or as a result of agreements such as the one for gasoline with the oil companies that after an increase of 12.5% in August after devaluation, they will not touch prices until after the general elections. Medicines, will be another of the items that will not have a price increase, in accordance with what was agreed with the laboratories.
In other items, continues to update prices based on past inflation cAs in the case of public transport or with price agreements as with food.
Among the main increases that will be in September are:
Increases in food and beverages
The adjustment agreed between the Government and the main consumer companies, supermarkets and wholesalersmarks a 5% cap increase for more than 52,300 products. It would be the second increase in the agreement after the initial 5% in August. However, there are many companies that have disagreed with the updated margin increase, arguing that it does not compensate for the increase in costs caused by the 22% devaluation, in practice the agreement is being fulfilled.
Telephony, television and internet also rise strongly
As of September 1, a new increase in telephone, television and internet services will come into force. This is the sixth installment of the staggered increase authorized by the National Communications Entity (Enacom) last May, through resolution 557/2023.
The regulations established an increase of 4.5% per month, from May 2023 to December of this year. On this occasion, with the adjustment that will take effect from September 1, the maximum value of the second of mobile telephony voice will go from $0.84 to $0.91. For its part, the SMS will jump from $10.90 to $1140 and the value of 50 MB/day will go from the current $45.52 to $56.98. Companies may charge lower amounts, but never higher.
Electric power
In September there will also be an increase in public service rates, but only for users belonging to the high and medium income segment. As confirmed by the Secretary of Energyin the ninth month of the year will increase about 11% the value paid to generators. The increase will impact the electricity bills of users who no longer have a subsidy, that is, those with high (5.3 million households) and medium (2.8 million) incomes. Industries and businesses will also be affected.
According to estimates by specialists, the impact on the ballots will average 5.6%. In parallel, the ground is beginning to be prepared for a public hearing to determine a new increase in the gas rate, but the debate would only take place in November.
Domestic service
A new wage increase for domestic service will come into effect in September. The adjustment will be 8%, with which employers must pay a minimum of $1,057 per hour to general task personnel or a monthly payment of $129,670.
To this will be added the bonus announced by the Government, which will be $12,500 in September and $12,500 in October. The Nation will contribute 50% of the bonuses in cases in which employers register net income of less than $1.5 million per year. Those who exceed that amount must pay the bonus out of pocket.
Source: Argentine News