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Argentina 2022 inflation to reach 54.8% -cenbank poll -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : A customer requests prices from a greengrocery in a market on June 15, in Buenos Aires. Picture taken June 15, 2021. REUTERS/Agustin Marcar/File photo

(Reuters] Argentine inflation is projected to hit 54.8% by the end 2022, according a poll from the central bank. It was 2.7 percentage point higher than what had been estimated in the survey of last month.

A poll showed that the median forecast for the economic growth was 2.9%, which is up from 2.5% according to previous polls.

Analysts predict that Argentina’s ailing peso will continue to plummet, with its official rate reaching 163.74 pesos to the dollar by December and 229.18 pesos to the dollar by 2023. Today, it trades at 103.29 pesos per dollar.

On the black marketplace, half of the official rate is worth the Argentine Peso.

This third largest economy in Latin America is currently suffering from inflation over the years. It has just begun to emerge from a prolonged recession that was exacerbated recently by the COVID-19 pandemic.

According to a bank statement, the monthly Market Expectations Survey survey surveyed 37 analysts from Dec. 27 through Dec. 30.

According to analysts, December inflation was 3.4%.

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