*Argentina’s central bank (BCRA) has reported that in its latest survey of market expectations (REM), private analysts have moderated their inflation forecast for 2024 to 127.4%, a decrease of 10.7 percentage points from the forecast made in the previous (June) survey. The analysts also forecast monthly inflation of 3.9% in July 2024, down 0.9 percentage points from the previous estimate. August’s inflation is projected at 3.8%, also down 0.9 percentage points from June’s predictions. Analysts anticipate a gradual decline in inflation through the latter part of the year. Official data shows that Argentina’s monthly inflation rose to 4.6% in June, bringing the annual rate to 271.5%. In the REM, analysts also forecast GDP to decline by 3.7% in 2024 compared to 2023, with a potential recovery beginning in the third quarter.
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LatinNews Daily - 7 August 2024
In brief: Analysts revise down Argentina’s inflation forecast
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