15:19 | 06/06/2024
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Credit card transactions in May reached $7,877,139 million, 170.8% more than in the same month last year, but about 100 points below accumulated inflation, which shows a strong contraction in consumption .
This data complicates the official story that suggests that the worst of the crisis would have occurred during the months of March and April.
If compared to April of this year, credit card sales increased 9.2%, in this case exceeding the expected inflation for the period.
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{{msg}} {{msg}}Guillermo Barbero of First Capital Group highlighted that it is “the second consecutive month of real increase and the growing supply of sales in installments.”
Barbero highlighted that “more and more businesses are joining the offer of sales in installments with or without interest through the Simple Fee program or with private financing.”
He added that “the reappearance of plans with up to 12 installments is also observed. “All of these are commercial and financial actions that favor the recovery of credit portfolios.”
The consulting firm’s report specified that consumption in dollars with credit cards registered a year-on-year increase of 65.1%, although with an irregular monthly behavior alternating increases and decreases.
“In May there was an increase of 10.2% compared to the previous month. The total amounted to US$464 million. Portfolio balances are approaching those existing before the pandemic, which indicates a normalization of operations,” Barbero explained. (NA)
