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Argentina Inflation

Argentina Inflation

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 2019 to 2018.
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 rose to 287.9% in March from February’s 276.2%. March's figure marked the highest inflation rate since our current records began. The trend pointed up, with annual average inflation coming in at 183.2% in March (February: 165.9%). Lastly, consumer prices increased 11.01% in March over the previous month, below February's 13.24% rise. March's result marked the weakest reading since October 2023.

Commenting on the reading, Itaú Unibanco’s Andrés Pérez and Diego Ciongo stated: “The appreciation of the currency and weaker consumption driven by the sharp contraction of real wages contributed to slow the monthly rise of inflation at the margin. We maintain our year-end inflation forecast at 180%, with monthly headline inflation projected to fall to one digit in April.”

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 47 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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