They were updated by the Secretary of Commerce...

The Ministry of Commerce has once again updated the reference prices for 000 flour, resulting in an increase in the 25 kg bags, a basic ingredient for bakeries, which will now cost $1,991.

This update was confirmed today in the Official Gazette and represents a 6.01% increase compared to the last official adjustment applied in mid-April.

The price per ton of flour has risen to $78,146, marking a cumulative variation of 25.1% for the first five months of 2023 and a 65.9% year-on-year increase compared to the values of May 2022.

This annual increase is lower than the inflation rate of the past 12 months, which reached 108.8 percent. This is attributed to the implementation of FETA, created in March of last year to curb the "sustained increase in the price of foods" made with wheat, corn, sunflower, and derivatives, stemming from the conflict between Russia and Ukraine.

Source: Página12