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ShreeMetalPricers: Argentina’s Inflation Peaked, Cost of Living has doubled since last year

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Argentina’s inflation rate is expected to reach 99.9% in 2023. Faster than the previous year’s rate & beyond earlier projections of a little slower growth. According to a central bank survey of analysts released Friday.

The prediction comes during a protracted economic and social crises in one of Latin America’s biggest countries and is 2.3 % points higher than the 2023 rate predicted in the survey taken previous month.

The statistics institute of Argentina Central bank estimates that the annual rate of inflation in 2022 was 94.9%.
The consensus forecast for monthly inflation of Feb is 6.1%, which is higher than the 6% reported in Jan.

In 2023, economic growth in Argentina is predict to be stagnant, lower from the 0.5% increase forecast in the previous survey.

At the end of the year, analysts expected. That the average nominal exchange rate for the country would drop to 330.47 pesos to the dollar.

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