Business & Economy

Analysts expect inflation in Argentina to reach 72.6 percent in 2022

Buenos Aires, Jun 3 (EFE).- The monthly report by the market analysts of Argentina’s central bank BCRA on Friday reflected a jump in the expected retail inflation to 72.6 percent for 2022, 7.5 percentage points above the previous month’s assessment.

This forecast, included in the Market Expectations Survey (REM) report, corresponds to the analysis of the last week of May 2022.

Thus, inflation projections moved further away from the 38-48 percent range for 2022 set out in Argentina’s agreement with the International Monetary Fund to refinance debts of more than $40 billion.

Argentina’s inflation, among the highest in Latin America, registered a year-on-year increase of 58 percent in April 2022 and a monthly increase of six percent, according to the National Institute of Statistics and Censos (Indec).

On the other hand, experts expect GDP in Argentina to grow by 3.3 percent in 2022, 0.2 percentage points below the previous measurement, and they expect GDP to increase by two percent in 2023. EFE


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