2023-04-17 17:37:22
When we talk about basic necessities, we logically think of food, since nutrition is essential for survival itself. But, among other things, people also need to dress and put on shoeswhich goes beyond the uses and customs. The entry into the cold period of the calendar makes it more evidentmainly in our region where it is usually more crude than in the rest of the country.
The 7.7% inflation in March is surprising, shocking and painful data. Every tenth of that figure is hundreds of compatriots who fall below the poverty line, a threshold that haunts more and more people and families.
When the behavior of prices in recent times is analyzed and disaggregated, there is one item that stands out. Clothing and footwear has been showing its own dynamics for many monthsand we share some data to dimension it.
- 317%
- It was the increase in prices of the “clothing and footwear” category in Argentina from January 2021 to March of this year.
– In March, clothing and footwear prices rose 9.4% nationwide, above 7.7% inflation. In Patagonia, the item showed an average rise of 7.8%, against 7% of the general level.
–In 16 of the last 24 months, the clothing and footwear category increased its prices more than the general level in Argentina. That is, throughout the last two years, this phenomenon was observed in 2 out of every 3 months, and in the Patagonian region the relationship is even higher. This shows that the relative price of clothing does not obey seasonal issuesbut it is something chronic.
– From January 2021 to March 2023, the prices of clothing and footwear accumulated a national increase of 317%. That is to say, on average more than quadrupled in just over two years. In the same period, the general index increased by 244%, that is, 73 percentage points less than clothing.
– The foregoing is more serious if one observes what happened in Patagonia, where clothing increased by 326% in the period and the general index by 239%. The gap in the region widens to 87 percentage points.
- 326%
- It was the increase in prices of the “clothing and footwear” item in Patagonia from January 2021 to March of this year.
Inflation is defined as a general increase in prices, and indeed in Argentina that happens. But what also takes place in an inflationary context is the distortion of relative prices, and with clothing this is evident. For example, a pair of sneakers can cost more than a top brand bike.
Clothes are so expensive in Argentina that for many people it is still convenient to travel to neighboring countries and buy them in neighboring countries. even with the current exchange difference.
A pair of sneakers can cost more than a top brand bike.
As they are essential products, it is expected that sales of clothing and footwear will decrease less than proportionally than the price increases. That is to say, having an inelastic demand, its reduction due to price increases does not result in massive closures of premises.
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