Austria: Harmonized inflation rises in March
Harmonized inflation ticked up to 4.1% in March, slightly above February’s 4.0%. Looking at the details of the release, housing...
Inflation in Argentina
Between 2013 and 2022, Argentina faced rampant inflation, consistently recording one of the highest rates in the world. The inflation rate, often exceeding 30% annually, was fueled by economic instability, currency devaluation, and fiscal deficits. This trend worsened over the years, with inflation soaring to over 50% by 2022. The government's efforts to stabilize prices through monetary and fiscal policies had limited success, as structural economic challenges and external factors continued to exert upward pressure on prices.
Consumer price inflation averaged 38.8% in the ten years to 2022 in Argentina, significantly above the Latin America regional average of 8.4%. The 2022 average figure was 72.4%. For more inflation information, visit our dedicated page.
Argentina Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Argentina from 2014 to 2023.
Source: INDEC Argentina.
Argentina Inflation Data
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 34.3 | 53.5 | 42.0 | 48.4 | 72.4 |
| Inflation (CPI, ann. var. %, eop) | 47.6 | 53.8 | 36.1 | 50.9 | 94.8 |
| Inflation (WPI, ann. var. %, eop) | 73.5 | 58.5 | 35.4 | 51.3 | 94.8 |
Inflation comes in at highest level since our records began
Inflation came in at 254.2% in January, up from December’s 211.4%. January's result represented the highest inflation rate since our current records began. The trend pointed up, with annual average inflation coming in at 149.0% in January (December: 133.5%). Lastly, consumer prices rose 20.60% in January over the previous month, which was below December's 25.47% increase and surprised markets on the downside.
Commenting on the outlook, Itaú Unibanco’s Andrés Pérez and Diego Ciongo stated: “We expect monthly inflation to remain in the double digits until at least the beginning of Q2 2024, reflecting pass-through effects of the currency devaluation and the correction of the prices for energy, transportation and fuel, among others. Our inflation forecast for year-end 2024 stands at 180%, with upside risks.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Argentine inflation projections for the next ten years from a panel of 42 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Argentine inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Argentine inflation projections.
Want to get access to the full dataset of Argentine inflation forecasts? Send an email to info@focus-economics.com.
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