Inflation in Argentina

Argentina Inflation | Economic News & Forecasts

Argentina - Inflation

Inflation comes in at highest level in over three decades in June

Consumer prices rose 5.30% over the previous month in June, accelerating from May's 5.05% increase and marking the fourth consecutive month in which prices grew above 5.0% in month-on-month terms. The highest price increases were recorded for healthcare, housing and utilities and alcoholic beverages and tobacco.

Inflation jumped to 64.0% in June, above May’s 60.7%. June's result was the highest inflation rate since our current records began. Annual average inflation rose to 54.7% in June (May: 53.4%).

Commenting on the inflation outlook, Lucila Barbeito and Diego W. Pereira, analysts at JPMorgan, stated:

“Under the vein of recent developments, we now expect an acceleration of inflation during H2 2022, which prompts us to revise our base case scenario ahead. While acknowledging the high uncertainty clouding our inflation forecast, our new base case scenario now assumes monthly average inflation at 5.8% in H2 2022, from 5.3% in H1. Yet, admittedly the forecast risk is still skewed to the upside amid potential pressures on BCRA balance sheet if the government fails to comply with the fiscal consolidation effort unveiled by Batakis for H2 2022 (see our note). In all, we acknowledge that absent a quick rethinking of the macro framework, the risk of converging to triple-digit annual inflation is increasing. We mark December 2022 inflation forecast at 90% oya.”

FocusEconomics panelists expect inflation to be 73.5% at the end of 2022, which is up 5 percentage points from last month’s forecast. Inflation is projected to moderate to 61.8% at the end of 2023.

Argentina - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)26.7  41.2  27.7  -     -     

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Argentina Inflation Chart

Argentina Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: National Statistical Institute (INDEC) and FocusEconomics calculations.

Argentina Facts

Value Change Date
Bond Yield6.690.15 %Dec 17
Exchange Rate59.880.45 %Dec 30

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