Argentina’s consumer prices rose 1.5% in October, government statistics agency Indec said on Tuesday, bringing 10-month inflation to 19.4%. It was the second month in a row that cumulative inflation for 2017 was above the upper band of the central bank’s target range for inflation, between 12% and 17% this year. Private sector economists expect inflation of 23% this year and 16% in 2018.
Argentina is disputing with Chile South America’s top producer of the mineral lithium, a key ingredient for the production of electric cars and its rechargeable batteries allowing them to retain energy far longer, and as a consequence its price has soared more than 30% to a record US$ 12.000 a ton this year.
The purchase by Argentina of five refurbished French Super Etendard to help with security measures when Argentina hosts the 2018 G20 summit, which will bring together the world's top leaders, has triggered a dispute among the country's services since the current defense minister, Oscar Aguad wants to concentrate all military aircraft in the Air Force.
Argentina's ARA Islas Malvinas has started this season's Antarctic duty as part of the Antarctic combined naval patrolling, responsibility which Argentina shares with neighboring Chile since 1988.
Argentina's Acindar steelmaker is currently working at 70% of its installed capacity, which is 1.7 million metric tons of crude steel and 1.4 million mt of finished steel. In 2016, Acindar produced 962,000 mt of steel products. Expectation for 2017 is that it will reach 1.1 million mt, resuming good levels for the company.
An IMF visiting team in Buenos Aires concluded its annual review of Argentina's economy and praised the efforts of President Mauricio Macri's nearly two-year-old government to transform the economy saying it has yielded significant gains, but also warned that risks remain.
DYNASAFE Bactec recently returned to the Falkland Islands to continue demining operations, namely the completion of Phase 5a by March 18. “The break of around 10 weeks has allowed us all to recharge our batteries to finish these remaining tasks,” said Project Manager Julius Unsung.
Argentina's state-run oil company YPF is disappointed by cuts to the government's natural gas production subsidies and will re-allocate investment toward crude oil production.
Argentina’s government has decided to ditch a proposed tax on wine after vineyards complained the measure would cripple the industry, the governor of the country’s top wine-making province said.
Argentina's annual core inflation forecast for the end of 2017 rose by 0.7 percentage point (pp) in November to 21%, according to a monthly survey conducted by the Argentine central bank. For 2018, analysts estimated a 14.3% annual inflation, from 14% in the previous survey.