Prices of wholesale products register an increase of 6.71%.

The Wholesale Price Index (IPG) registered a year-on-year variation of 25.49%, in the period from December 2023, having recorded an increase of 6.71 percentage points in relation to that observed in the same period of the previous year. According to the bulletin from the National Statistics Institute (INE).

Julieta Paquete

The year-on-year variation trend over the last three years is increasing. The body responsible for statistical information reports that the IPG registered a monthly variation of 2.88% in the period from November to December 2023, in the agriculture sector, manufacturing industry, fishing, among others, which was higher by 1.68 percentage points in relation to that observed in the same period in 2022.

In terms of sectors, the Manufacturing Industry is the one that recorded the biggest price increase, with 2.83%, and the products that had the greatest variation in local production include Beef with (6.91) Wheat flour (6.88) Goat meat (5.26) Pork (4.97) Corn flour (4.55) Dried meat (4.09) Beer (4.06) Frozen bunch (3.81) Horse mackerel Frozen (3.54) Soybean oil (3.33) Frozen croaker (3.19) Butter (2.98) Powdered milk (2.92) Soda (2.77) and Cake with (2.35) between the main ones.

In December 2023, the imported products that increased the most in price were Cane sugar (7.96) White needle rice (7.61) Olive oil (5.57) Beef (4.87) Olive oil soy (4.37) Pork (4.26) Whiskey (4.12) Tuna (3.85) Frozen chicken (3.77) Dried cod (3.73) Pineapple juice (83.67) Frozen mackerel (3.63) Wheat flour (3.63) Red wine (3.55) Chorizo (3.50) Sunflower oil (3.41) Crackers (3.35) Gin with (2.97) Sardines preserves (2.80) Corned meat (2.78) Olives (2.67) and Cornmeal with (2.63).

In that period, the prices of national products increased by 2.76%, in the Agriculture, Fishing, Animal, Production, Hunting, Forestry and Manufacturing sectors, compared to those in November. The prices of imported products increased by 2.92% compared to the previous month, in the same sectors.

According to the table presented by INE, the accumulated variation of national products in December 2023 was 31.08%. The variation in imported products was 23.58%.

Products of foreign origin (imported) were those that contributed most to the population's consumption, given the global inflation observed in December, with a weight of 2.14 percentage points, or 74% of products consumed nationally. Along these lines, national production contributes only 0.74 percentage points, which corresponds to 26% of the value of global inflation.

However, inflation for national products was 2.76% and inflation for imported products was 2.92%.

Source. INE