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Argentina Inflation January 2024

Argentina: 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.”

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