Argentina: Expectations of an increase in monthly inflation to more than 10 percent in August

Officials at the Argentine Central Bank said that the bank expects consumer prices to rise during the month of August by 10.6% per month, which is the highest monthly rate since Argentina emerged from the massive inflation crisis in more than three decades, according to Bloomberg News.

And Bloomberg mentioned that the central bank’s expectations for inflation are still lower than those of economists in the private sector. Eco Latina, Echo Go, and Consultura Ledesma consulting firms expect the inflation rate to range between 10.8% and 13% during the current month.

The Argentine Statistics Agency is scheduled to publish inflation data for the current month, on September 14, which will be much higher than the inflation rate last July, which was 6.3%, confirming the significant impact of the 18% depreciation of the peso earlier this month.

It is noteworthy that the government of Argentine President Alberto Fernandez reduced the official rate of the peso against the dollar on August 14.

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