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Savings, a necessary solvency alternative for 2023

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Savings, a necessary solvency alternative for 2023

According to the latest report from the National Administrative Department of Statistics (Dane), the annual variation of inflation stood at 13.25% in January, while for the month in question the monthly variation was 1.78%. In the first report of the Consumer Price Index (CPI) of 2023, it is evident that this figure is 6.31 percentage points higher than that reported in the same period of the previous year, when it was 6.94%.

DIARIO DEL HUILA, ECONOMY

By: Johan Edward Rojas Lopez

In turn, the monthly variation for January was 1.78%, a figure that is within the range of analyst and market expectations. This monthly behavior of the CPI is mainly explained by the monthly variation of the Transportation and Food and non-alcoholic beverages divisions. For its part, the annual variation (13.25%) was marked by the behavior of the food and non-alcoholic beverages and lodging, water, electricity, gas and other fuels divisions.

In Neiva, what increased the most was the expense related to property, car rental.

justified concern

Faced with this, Oscar Rujana Quintero, president of the Huilense Society of Economists, stated that, undoubtedly according to the various statistical results delivered in the last year, they are worrying, for which the National Administrative Department of Statistics could not be less explicit. and direct when indicating that this has been one of the most critical results that the country has had in the last two decades.

Understanding then that the Consumer Price Index or inflation is one of the indicators that most ground the reality of the development of the economy and the consumer, in this particular case, it is evident that in effect the consumer is weighing excessive increases and significant in the prices of food and non-alcoholic beverages. In this sense, this division has generated one of the greatest weights that the cost of living has had in the country, followed by transportation, restaurants and hotels.

“This is shocking and worrying, despite the fact that in 2023 economic uncertainty has improved significantly worldwide, given that thinking about an economic recession that would impact the country has ceased, because that effectively gives us the opportunity to have some elements many more viable for what happens in this matter, however, Colombia today does not have a favorable result either, ”explained the expert.

The foregoing can be supported, for example, with the interest rate that grows and directly impacts the rate of living, in addition, this would also have the price variable of the representative market rate that has a very latent volatility, which registers significant impacts in that the dollarization of the family basket almost represents 43% and, precisely, that makes any dynamics of the dollar affect the pocket of citizens.

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This increase, therefore, generates concern in the cost of living of the consumer in the country and naturally, the department of Huila and its capital, are not exempt from this scenario or impact. However, “at the level of inflation in January of 1.76% we are above the range of the average level, but the cost of food in our region continues to be worrying,” he said.

Thus, he added that the comparison with the month of January of the immediately previous year is quite disturbing because for the same month of 2022 there was 12.26% in January 2022, when the strong pandemic that modified the economic and It was expected that coming out of the post-pandemic, the results of the consumer’s cost of living would be the most promising, but after that world crisis, other external variables have been experienced that have significantly weighed on the region’s economy, such as the dollar.

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Waiting

“I believe that we are indeed waiting for a government policy that truly addresses these great economic scourges and that the National Government will have to do through a development plan with which it will give the possibility of opening some spaces of hope. and attention to vulnerable sectors that are the ones who are actually feeling these impacts of the cost of living”, stated Rujana Quintero, who added that she believes that what will come will be favorable for the cost of living to have some exceptional conditions in order to the economy improves somehow.

This is how, in your opinion, you have to give it a ‘compass’ while the national policy arrives because very specific situations are going to be addressed in terms of vulnerable and social population, which will somehow allow you to find an important incentive for improve those cost of living results with which 2022 closed and the first month of 2023 began.

For the above, it is also important to observe the geographical position of the department, since, within the southwestern location of the country, there are basically real affectations with regions of high trade and futility in terms of food. This will be a situation that will continue to weigh on the cost of living for Huilenses and will have serious impacts.

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“The national effects are going to continue giving some negative results in this matter of the cost of living. However, I remain positive and optimistic, but not as broadly as we should be,” he stated.

The monthly variation for January was 1.78%, a figure that is within the range of expectations of analysts and the market.

More savings and less debt

Above all, in view of this panorama, the president of the Huilense Society of Economists advised betting on savings and not on debt, since the spending decision should be weighed and a very objective vision of the economic reality facing the world must be considered. the country, the department and the city of Neiva. Simply, that will be the only thing that can favor consumers.

Thus, he concluded that, “Savings is one of the most appropriate decisions that all consumers must have this year and, therefore, the margin of indebtedness must be in the smallest decision. We should not borrow anything sumptuous or anything that will mean many conditions that are not favorable. It is important to have more savings and less debt to be able to have a solvency of some liquidity because that is what can save us”.

Finally, in the case of Neiva, the report showed the eighth lowest monthly increase in the cost of living in the country. The capital was below the national average (1.78%) and showed a variation of the CPI of 1.60%. Here, what increased the most was the expense related to property, car rental: the most important component is the technical-mechanical review, which had an increase of 24.94%.

Annual and monthly version

The variation and monthly contribution by divisions of expenditure in the month of January 2023, the CPI registered a variation of 1.78% compared to December 2022. Five divisions were above the national average (1.78%): Transportation (3.98%), Restaurants and hotels (3.11%), Food and non-alcoholic beverages (2.46%), Furniture, articles for the home and for ordinary household maintenance (2.29%) and , lastly, Miscellaneous goods and services (1.92%).

Below were: Health (1.63%), Recreation and culture (1.48%), Alcoholic beverages and tobacco (1.47%), Accommodation, water, electricity, gas and other fuels (0.49%) , Clothing and footwear (0.40%) and Information and communication (0.08%). The Education division did not show any variation.

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The largest contributions to the monthly variation of the CPI (1.78%) were located in the divisions of: Transportation, Food and non-alcoholic beverages, Restaurants and hotels and Lodging, water, electricity, gas and other fuels, which contributed 1. 47 percentage points to the total variation.

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In the variations and contributions of the subclasses in the month In January 2023, compared to December 2022, the variation of the subclasses that contributed the most to the total index were: Urban transport (6.61%), meals in service establishments to the table and self-service (3.53%), fuel for vehicles (3.67%), new or used private vehicle (2.41%), imputed rent (0.45%), bananas (10.67%) , meals prepared outside the home for immediate consumption (2.48%), milk (3.74%), cleaning and maintenance products (3.21%) and potatoes (8.84%).

The subclasses condiments and culinary herbs (-3.10%), gas (-0.13%), cassava for home consumption (-0.93%) did not contribute to the monthly variation of the index.

Likewise, the variation and annual contribution by expense divisions in the month of January 2023, the CPI registered a variation of 13.25% compared to January 2022. In the last year, the Food and non-alcoholic beverage divisions (26 18%), Restaurants and hotels (19.36%), Furniture, items for the home and for ordinary household maintenance (17.52%), Transportation (13.92%) and, finally, Goods and services diverse (13.80%) were above the national average (13.25%).

Meanwhile, the divisions Health (10.30%), Recreation and culture (9.33%), Alcoholic beverages and tobacco (9.18%), Clothing and footwear (7.34%), Accommodation, water, electricity, gas and other fuels (6.97%), Education (5.98%) and, finally, Information and communication (0.20%) were below the national average.

This increase, therefore, generates concern in the cost of living of the consumer in the country and naturally, the department of Huilense and its capital.

Neivans are no longer surprised

Daniela Sepúlveda, housewife

“Those increases and rises are no longer new. It is already known that we are going from bad to worse and whenever one is going to make a purchase, everything is more expensive. This raises a lot of concern, but it is not something new. The money is no longer enough for anything”.

Oscar Gutierrez, conductor

“It has affected us a lot and we do not know where we are going to get with this situation. They said that we were going to live tasty, but everyone is very bad, nobody has enough for anything and at home they ask for what is needed, but nothing is enough”.

Maritza Martínez, manager of a bar

“The situation is tenacious. I did not know that it went up again, it is that this is unlivable, I do not know where we are going to get it or how we are going to do to be able to supply all the needs. They say there is hope, but sometimes one feels that there is not. We have to wait and see what happens this year”.

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