LatinNews Daily - 10 October 2023

In brief: Argentina’s inflation expected to remain high in September

*Argentina’s central bank (BCRA) has announced that monthly inflation averaged 12% in August and September. In its monthly monetary policy report, the BCRA stated that inflation over the past few months has reflected the impact of greater financial volatility and measures taken to compensate for the impact of severe drought on fiscal resources and international reserves, with the impact on prices mostly concentrated in August and September. The BCRA noted that inflation had shown a downwards trend since the first week of September and “a marked reduction in the monthly inflation rate is expected for October”. According to the BCRA, the deceleration of inflation in recent weeks is mainly due to measures implemented by the government led by President Alberto Fernández and the central bank itself. Annual inflation stood at 124.4% in August. September’s inflation figures will be released on 12 October – the final index before the first round of the presidential elections on 22 October.

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