Inflation came in at 98.8% in January, up from December’s 94.8%, marking the highest inflation rate since our current records began. Inflation is expected to average notably higher this year than in 2022, as a depreciating peso and monetary financing of the fiscal deficit fuel price pressures. Volatile energy prices and fiscal largesse ahead of October’s elections are key risks.
Argentina Monetary Base (ann. var. %) Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Monetary Base (ann. var. %) | 21.8 | 40.7 | 34.5 | 30.3 | 47.9 |