Argentina: Inflation drops to lowest level since November 2023 in September
Inflation drops to lowest level since November 2023 in September
Latest reading:
Latest reading: Inflation dropped to 209.0% in September, following August’s 236.7%. September’s reading marked the weakest inflation rate since November 2023, and was driven by moderating price pressures across a range of subsectors. The more-than-halving of a key import tax in September likely dampened price pressures in the month.
Annual average inflation rose to 243.5% in September (August: 242.1%).
Lastly, consumer prices rose 3.47% in September over the previous month, coming in below August’s 4.17% rise and in line with market expectations. September’s result marked the weakest reading since November 2021.
Inflation dropped to 209.0% in September, following August’s 236.7%. September’s reading marked the weakest inflation rate since November 2023, and was driven by moderating price pressures across a range of subsectors. The more-than-halving of a key import tax in September likely dampened price pressures in the month.
Annual average inflation rose to 243.5% in September (August: 242.1%).
Lastly, consumer prices rose 3.47% in September over the previous month, coming in below August’s 4.17% rise and in line with market expectations. September’s result marked the weakest reading since November 2021.
Panelist insight:
Panelist insight: On the outlook, Itaú Unibanco analysts said:
“Our inflation forecast for YE24 is 125%. In our view, the continuation of the crawling peg policy (leading to a significant real appreciation of the ARS) should contribute to the disinflation process in the coming months, adding downside risks to our inflation forecast.”
On the outlook, Itaú Unibanco analysts said:
“Our inflation forecast for YE24 is 125%. In our view, the continuation of the crawling peg policy (leading to a significant real appreciation of the ARS) should contribute to the disinflation process in the coming months, adding downside risks to our inflation forecast.”