By Hernán Nessi
BUENOS AIRES (Reuters) – Argentina’s monthly inflation likely rose 2.7% last month, an acceleration from November’s 2.4% reading, according to the median expectations of analysts polled by Reuters.
Argentina’s economy has struggled with sky-high inflation that ended 2023 at 211.4% and peaked near 300% last April. A survey of central bank analysts released last week predicted the rate would end 2024 at 117.8% and reach double digits this year, closing 2025 at 25.9%.
Some 20 analysts polled by Reuters predicted monthly inflation levels ranging between 2.3% and 3.0%.
Analysts predicted a slight acceleration in December from the previous month, driven largely by food and entertainment prices due to the start of the year-end holiday period in the South American nation.
Consulting firm Management & Fit said food price increases would be driven primarily by the price of meat, but increases were also expected in the health and education sectors.
“Despite the relative stability of seasonal and regulated prices, inflation is not expected to continue its downward trajectory,” said Ignacio Ruiz, an economist at consulting firm Ecolatina, pointing to an expected 6% to 7% increase in prices. of the meat.
Ruiz predicted that core inflation, which excludes some especially volatile food and energy prices, would approach 3% in December.
Clara Alesina, an economist at the Freedom and Progress Foundation, a think tank, said 2024 had been marked by “remarkable progress in economic stabilization.”
“This slowing trend is expected to continue, bringing annual inflation to levels below 30%, which would mark the lowest level since 2017,” Alesina said.
Argentina’s INDEC statistics agency is expected to release its December inflation data on Tuesday.