Analysts consulted by the central bank of Argentina raised their estimate for the inflation in the country in 2022 at a 59.2%, 4.2 percentage points more than what they forecast the previous month, said the monthly REM survey published on Friday by the monetary authority.
In turn, according to Market Expectations Survey (REM) According to the institution, the analysts’ estimate for March inflation in Argentina is 5.5 percent.
The survey was conducted between March 29 and 31, among 41 participants.
The economists consulted also slightly raised their projection of economic growth for Argentina in 2022 to 3.2 percent.
Latin America’s third-largest economy has suffered from high inflation for years, which has been aggravated in the last month by the effects of the war between Ukraine and Russia. In turn, Argentina has recently begun to emerge from a long recession.
In turn, REM participants expect the average nominal exchange rate in Argentina in December to be 154 pesos per dollar and expect it to reach 222 pesos per dollar by the end of 2023.