The price of cars rose 83.6% in the last 12 months

The automotive price index rose 83.6% in February year-on-year, more than 30 points above the 50.3% inflation rate for the same period. The value of the cars was well above the overall CPI. In February, recorded an increase of 3.4%, while the accumulated bi-monthly rate was 4.9%. The level of patenting at the beginning of 2020 forecasts a scenario with a fall of 19.8% for the whole year.

Construction input prices increased by 4.5% in February

The prices of construction supplies registered in February a 4.5% increase, informed today the INDEC. The general level of the Construction Cost Index (CCI) accumulated in the first two months a rise of 10.2% and almost tripled the increase in retail prices of 4.3%. The increase in the CPI in February was the result of increases in Materials (1.4%), Labor (7.1%) and General expenses (2.7%).

Central Bank International Reserves (BCRA) accumulated a loss of $835 million in one week

The tourist dollar, which carries the 30% surcharge for the Country Tax, rose 17 cents to 85.27 pesos in agencies and banks in the city of Buenos Aires, while the blue, sank 4.2% to 85.50 pesos. The Central Bank (BCRA) held today the auction of Liquidity Letters (Leliq) at 28 days, which closed with an annual monetary policy rate of 38%. The ROFEX futures market traded 464 million dollars. Finally, the BCRA's International Reserves fell this Thursday to $88 million to $43.950 million, so the monetary authority's coffers accumulated a loss of $835 million in the last seven days.

The S&P Merval rebounded 2.6%, bonds did not react and country risk exceeded 4,000 points

The S&P Merval stock index rebounded 2.6% to 22,656.43 units due to portfolio recompositions, in a day of relative calm in the world's markets. Unlike equities, the leading dollar-denominated bonds ended down by up to 2%, accumulating a 20% decline so far this week. The argentine country risk rose 81 units to 4,050 basis points, after reaching an intraday high of 4,160 points at the average of the day, a new high in 15 years.

Oil prices rose: WTI to $25.22 and Brent to $28.47

Oil prices rose 24%, recovering part of the losses suffered from a liquidation that brought the barrel to its lowest levels in almost 20 years. The West Texas Intermediate (WTI) rose $4.85, to $25.22 a barrel, after having lost nearly 25% in the previous round. The Brent gained $3.59, up 14.4%, to $28.47 a barrel, after sinking to $24.52. With these substantial rises, the papers of the oil company YPF resurfaced on Wall Street and climbed 18.7% to $3.05 per share. Analysts said that the rebound would have more declines due to the impact of the coronavirus outbreak on demand.