The report was released on Friday 4th and is part of the Market Sentiment Survey which analyzed data from the last week of May this year.
Pixabay
A new monthly report from the analysts of the Central Bank of the Argentine Republic forecast an increase of 72.6% in inflation for the full year 2022. The report was released on Friday 4th and shows growth of 7.5 percentage points compared to the previous reading. The forecast is included in the Report Market Expectations Survey and takes into account an analysis of the last week of May. The forecast for inflation in 2023 also rose to 60%. In both cases, the expectations deviated from the ranges of 3848% for 2022 and 3442% for 2023 provided for in the agreement signed by the Argentine government with the Argentine government IMF (IMF) to refinance more than $40 billion in debt, including the possibility of revising these figures in light of new shocks in the global economy.
Argentina’s inflation is one of the highest in Latin America, posting a 58% yearonyear increase and a 6% monthly increase in April, according to data from the National Institute of Statistics and Census (Indec). For December 2022, the nominal exchange rate is expected to be 157.97 pesos per dollar, higher than the 120.68 pesos per dollar recorded when Argentina’s wholesale market closed this Friday the 3rd. Analysts expect Argentina’s GDP to grow by 3.3%. 2022 by 0.2 percentage points below the previous forecast. Growth of 2% is forecast for 2023.
*With information from EFE