Macri’s administration wants to put 2017’s inflation rate between 12 and 17 percent, according to the goals set by the Central Bank (BCRA). However, this might prove to be difficult to accomplish, as several goods and services have already began to increase their prices and several others will follow throughout the following four months.
In fact, a survey conducted by the BCRA, based on information gathered from 50 consulting firms, estimated that annual inflation will be of 20 or 21 percent, with a monthly average increase of 1.7 percent. Parking fees kicked off the year’s trending price increases with a 50 percent hike on January 4th. These are the main goods and services that are next.
Oil prices will increase 8 percent in January. The current price of common oil is AR $18 per liter. It’s expected that prices will rise again in March.
The Government also signed off on a steep increase in highway toll fares. The updated fees, which register in around 50 percent higher than what they are now, would be applied next month, alongside adjusted definitions for rush hour (when fares are the most expensive). Some access points to the City such as the Panamericana and Acceso Oeste highways will even see a 100 percent increase in their fares.
Do those prices have you feeling queasy? Just wait! Private health insurance companies were authorized by the Ministry of Health to increase their prices by up to six percent as of February. This is one of the services that usually sees the highest increases: people ended up paying 38 percent more for this service at the end of 2016 compared to what they paid at the beginning of the same year.
Cable TV services will increase between 9.5 and 14.2 percent as of February, depending on the company. How much was Netflix, again?
As for the different utilities, electricity bills will increase between 22 and 70 percent in the City and Province of Buenos Aires throughout the year. Córdoba, from its end, will see an increase of almost 30 percent. Moreover, the price of gas will also undergo a substantial increase. The percentage hasn’t been specified yet, but we do know that there will be 4 adjustments per year until 2019.
Real estate contracts
According to a report from real estate company Reporte Inmobiliario (Real Estate Report) to which Infobae had access to, rent prices will rise between 25 and 30 percent, in average. Those who have to renew their contracts will have to face even tougher negotiations: the report anticipates that increases in this case can go upwards to 40 percent.
However, despite all this bad news, there is a silver lining: the Government decided to extend the so-called “Precios Cuidados” program in supermarkets for four months. The items included in this program of subsidized products that began during the last Kirchner administration will see a three percent increase which, compared to what regular products increase on a monthly basis, is much easier to cope with.