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Argentina likely to see higher inflation this year – analyst

BUENOS AIRES (Reuters) – Analysts consulted by Argentina’s central bank expect a modest rise this year in a surge in consumer prices that would mark South America’s second-largest economy, the central bank said on Friday. Inflation was near triple digits for the second year in a row. largest economy.

Consumer prices are projected to rise at an annual rate of 97. 188 at 6%, compared to last year’s rate, according to a survey of analysts commissioned by the Argentine Monetary Authority (BCRA) 97 .8%.

The bank’s latest REM survey compares with December’s forecast of 97 .4% inflation by the end of the year .

Troubled government Based on budget projections, President Alberto Fernandez sees a significantly lower annual inflation rate of 2023 at just 60%.

Inflation forecasts from the survey eased ahead of 2024, but as prices rose 79. 6%, but higher than previous estimates of 79%.

has experienced an A prolonged economic crisis characterized by constant devaluation of the currency, Argentines live in a country with one of the highest inflation rates in the world, second only to Venezuela in Latin America.

Earlier this week, BCRA announced that it would be introducing a new 2, -peso note, Its denomination is twice the face value of the largest banknote currently available.

Analysts surveyed expect inflation to come in at 5.6% in January. According to the official IPC price index, prices rose 5.1 percent on a monthly basis in December.

Economic growth forecast for this year is expected to remain unchanged at 0.5%, while the official exchange year-end rate is expected to be per dollar 188, the survey shows.60.

Compared to the current value of about

, this would mark a tightly controlled official exchange rate 74% Weakness Peso/USD.

REM survey interviewed 40 experts for January. 27-27, including advisors , financial institutions and research centers.



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