Argentina | Real-time consumption monitoring (Nov 16, 2020)

After the momentum achieved at the end of October, consumption remained flat during the first days of November and is now returning to pre-pandemic levels. Inflation made its way and advanced more quickly than general mobility. ATM cash withdrawals in real terms continue their upward trend.

Key points

• Key points:
• The Cyber Monday boosted sales of some specific categories, although without the strength of July's Hot Sale.
• The new CPI data indicates that inflation began to accelerate its rate much more than the general mobility.
• Total consumption and spending on goods in real terms returned to their pre-pandemic level, while ATM withdrawals in real terms were 20% higher.
• Our real-time consumption indicator shows a high degree of correlation with the level of tax collection associated with the real economy.

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