Argentina: Inflation comes in at highest level since our records began
Inflation increased to 276.2% in February, following January’s 254.2%. February’s figure represented the highest inflation rate since our current records began.
The trend pointed up, with annual average inflation coming in at 165.9% in February (January: 149.0%).
Lastly, consumer prices increased 13.24% in February over the previous month, a smaller increase than January’s 20.61% rise, surprising markets on the downside.
Ommenting on the outlook, Itaú Unibanco’s Andrés Pérez and Diego Ciongo stated:
“Our inflation forecast for year-end 2024 stands at 180%, with upside risks, despite the lower-than-expected February print. We envisage monthly inflation to remain in the double digits until at least Q2 2024, reflecting price corrections for energy, transportation and fuel, among others.”