Analysts consulted by the central bank of Argentina they raised their inflation estimate for 2022 to 54.8%, 2.7 percentage points above what was previously calculated, according to the monthly REM survey published by the monetary authority.
Last month REM released analysts’ estimate for inflation for 2021 for the last time, at 51.1%.
According to the survey carried out by the Argentine central bank between December 27 and 30 among 37 participants, analysts predict that in the last month of last year inflation reached 3.4 percent.
Economists also raised their economic growth projection for Argentina in 2022 to a median of 2.9 percent, from a previous estimate of 2.5 percent.
The third-largest economy in Latin America has suffered from high inflation for years and has recently begun to leave behind a long recession, which deepened in 2020 due to the effects of the pandemic of the Covid-19.
REM participants anticipate that the exchange rate Average nominal value in Argentina in December is 163.74 pesos per dollar and they expect it to reach 229.18 pesos per dollar by the end of 2023.
Reference-www.eleconomista.com.mx