With a Consumer Price Index (CPI) for January 2023 expected at 5.6%, Argentina's Central Bank (BCRA) issued a report Friday forecasting that inflation for the entire year would be 97.6% while the country's Gross Domestic Product (the sum of all services and goods traded) will only grow by 0.5%.
Argentina says that consumer prices rose 6.5% in September bringing the twelve month inflation rate to 40.5%, one of the world's highest. The inflation rate published by the official statistics agency Indec, on Wednesday follows a sharp devaluation of Argentina's currency. The nine month rate reached 32.4%.
Argentina’s central bank would raise interest rates if inflation does not fall “a lot” beginning in May to a level consistent with its 2018 target for a 15% rise in consumer prices, central bank Governor Federico Sturzenegger said on Monday.
Argentina's Consumer Price Index (CPI) rose by 1.8% in January 2018, after increasing 3.1% in December 2017, said the country's statistics office Indec. Despite the deceleration, the reading was higher than market expectations for the monthly consumer price inflation (+1.5%). The result was primarily influenced by higher costs for entertainment and culture (+3.5%).