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Argentina Inflation April 2023

Argentina: Inflation increases in April

Inflation rose to 108.8% in April, following March’s 104.3%. April’s reading was the highest inflation rate since our current records began.

The trend pointed up, with annual average inflation coming in at 89.1% in April (March: 84.8%).

Finally, consumer prices rose 8.40% from the previous month in April, picking up from March’s 7.68% increase and marking the highest monthly print since April 2002.

Commenting on the release, Lucila Barbeito and Diego W. Pereira, analysts at JPM, stated:

“Following April’s strong upward surprise, we revise our central scenario ahead. We now assume monthly headline inflation at 8.1%m/m on average through year-end. We assume a correction of the official exchange rate by end-2023 upon a new administration taking office in December.”

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