Increased the most were the yerba, mayonnaise, cookies and coffee
In a comparison between prices in late January and yesterday, the NATION confirmed increases of up to 30% in commodities. Although according to official data upload to the food and drinks was 3.3%, on a tour of various supermarkets in the city of Buenos Aires it was found that the escalating inflation is much higher and feels especially in stock products, perfumery and milk.
For example, Hellmann's mayonnaise classic an increase of 30% was observed, while in late January was on the shelves at $ 10.40, was seen yesterday to $ 13.55. 30% was also the rise in cans peaches in the last days of last month cost about $ 20 and yesterday were above $ 26. For coffee 500g La Morenita the increase was 16%: it went from $ 33.69 to 38.99 pesos.
Another of the most affected by the escalating inflation was the yerba products. Thus, the half kilo Taragüi increased by 23%, while the Suave Union, the same weight, cost went from $ 19.91 to $ 20.35.
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Forbes explains Venezuela, Argentina Currency Devaluations Hit P&G Expected Sales And Earnings.
Retail investors arent the only ones suffering from the woes of the emerging markets: Procter & Gamble PG +2.06% is feeling the pain of foreign currencies, too. Due to devaluations in currencies like the Venezuelan bolivar, Argentine peso and Turkish lira, to name a few, the consumer product giant said that it is lowering its outlook for its full-year 2014 sales and earnings.
P&G, which in January announced second quarter earnings results that were already feeling the ill effects of foreign exchange rates, said Tuesday afternoon that it would incur a charge between $230 million and $280 million, or 8 cents to 10 cents per share, a one-time charge resulting from revaluing its Venezuelan balance sheet in the wake of a change in the way the Venezuelan bolivar is valuated. Venezuela uses a de-facto dual-exchange rate system, but policy changes recently enacted by the Venezuelan government are affecting the way that certain imports i.e, certain P&G products are exchanged. Specifically, the policy changes dictate that the state-run currency rate between the bolivare and the dollar is now 11.4 bolivares per one U.S. dollar; P&G, meanwhile, had calculated the value of its foreign transactions using the other, 6.3-bolivare-per-USD rate, thus the near-$300 million charge P&G now expects to incur on its third quarter balance sheet.
The state-run currency rate is a floating rate, which means that there is potential for future financial impacts if the rates continue to change. Naturally, those impacts could go either way for P&G depending on which way the currency moves, so the final impact to P&Gs balance sheet is not yet known. However, because of the existing changes in the currency rate policies, as they apply to certain imports, P&G said that its fiscal year 2014 earnings growth will be reduced by one percentage point.
Con't
In a comparison between prices in late January and yesterday, the NATION confirmed increases of up to 30% in commodities. Although according to official data upload to the food and drinks was 3.3%, on a tour of various supermarkets in the city of Buenos Aires it was found that the escalating inflation is much higher and feels especially in stock products, perfumery and milk.
For example, Hellmann's mayonnaise classic an increase of 30% was observed, while in late January was on the shelves at $ 10.40, was seen yesterday to $ 13.55. 30% was also the rise in cans peaches in the last days of last month cost about $ 20 and yesterday were above $ 26. For coffee 500g La Morenita the increase was 16%: it went from $ 33.69 to 38.99 pesos.
Another of the most affected by the escalating inflation was the yerba products. Thus, the half kilo Taragüi increased by 23%, while the Suave Union, the same weight, cost went from $ 19.91 to $ 20.35.
Con't
AND
Forbes explains Venezuela, Argentina Currency Devaluations Hit P&G Expected Sales And Earnings.
Retail investors arent the only ones suffering from the woes of the emerging markets: Procter & Gamble PG +2.06% is feeling the pain of foreign currencies, too. Due to devaluations in currencies like the Venezuelan bolivar, Argentine peso and Turkish lira, to name a few, the consumer product giant said that it is lowering its outlook for its full-year 2014 sales and earnings.
P&G, which in January announced second quarter earnings results that were already feeling the ill effects of foreign exchange rates, said Tuesday afternoon that it would incur a charge between $230 million and $280 million, or 8 cents to 10 cents per share, a one-time charge resulting from revaluing its Venezuelan balance sheet in the wake of a change in the way the Venezuelan bolivar is valuated. Venezuela uses a de-facto dual-exchange rate system, but policy changes recently enacted by the Venezuelan government are affecting the way that certain imports i.e, certain P&G products are exchanged. Specifically, the policy changes dictate that the state-run currency rate between the bolivare and the dollar is now 11.4 bolivares per one U.S. dollar; P&G, meanwhile, had calculated the value of its foreign transactions using the other, 6.3-bolivare-per-USD rate, thus the near-$300 million charge P&G now expects to incur on its third quarter balance sheet.
The state-run currency rate is a floating rate, which means that there is potential for future financial impacts if the rates continue to change. Naturally, those impacts could go either way for P&G depending on which way the currency moves, so the final impact to P&Gs balance sheet is not yet known. However, because of the existing changes in the currency rate policies, as they apply to certain imports, P&G said that its fiscal year 2014 earnings growth will be reduced by one percentage point.
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