Cumulative Food Inflation Climbs to 22% Through August | La Inflación acumulada de alimentos escala al 22% hasta agosto

By Marco Antonio Belmonte, Visión 360:

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Twelve-month cumulative food inflation has reached 31.21%. Prices rose for chicken meat, beef, and bananas.

Oferta de huevos en un mercado de La Paz. Foto: ABI

Egg supply at a market in La Paz. Photo: ABI

While the Consumer Price Index (CPI) peaked at 18.09%, food inflation recorded a much higher cumulative rate of 22% in the first eight months of the year, through August, in a general context of rising prices hitting household budgets.

Food inflation began to surge over the past four months with cumulative rates surpassing the general CPI: 12.75% in May, 20.12% in June, 20.52% in July, and 22% in August.

Over 12 months, that is, year-on-year variation, food inflation is even higher at 31.21%, according to the INE, with August alone posting 1.23%.

The food group is classified under “food and beverages” consumed both inside and outside the home, covering the following divisions: food and beverages, non-alcoholic and alcoholic drinks, tobacco (except cigarettes), expenses in recreation and culture, only registers pet food, and food and beverages consumed outside the home.

The monthly variation of the Consumer Price Index (CPI) in August was a positive 1.01% compared to July. The cumulative variation through August reached 18.09%.

The products showing the greatest price increases were chicken meat (10.70%), paper products (12.52%), stationery and/or school supplies (14.41%), boneless beef (1.09%), plantain, guineo, and banana (4.60%), as well as perfume and cologne (2.21%).

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