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Inflation in Argentina: 20% to 23% Estimated for January, Highest in Over a Decade

ByEditor

Feb 12, 2024
Lower sales in Argentina result in lower inflation in January compared to December

On Wednesday the 14th, the INDEC will release inflation data for January. According to consultants, the range is estimated to be between 20% and 23%. While this level was below December’s (25.5%), there was a slight deceleration in the third week of the month.

The City of Buenos Aires has provided some insight into what happened in the first month of the year with its government’s inflation data. In Buenos Aires, the increase in January was 21.7%, which is the highest since 2012. The interannual variation of the index amounted to 238.5%.

Economist RocĂ­o Bisang from EcoGo predicts an inflation rate of 21,2% for January, citing a drag left by December’s increases in certain areas such as Health and Transportation. Lorenzo Sigaut Gravina, director of Equilibra consulting firm, forecasts a preliminary data rate of 22,5% for January, lower than that for December.

The fall in purchasing power due to wages running behind prices led to a slowing down of remarkable inflation in January. This trend was reflected in reduced demand for cars, shopping malls, supermarkets, gasoline and retail stores.

According to Ferreres & Asociados research based on over fifteen thousand GBA prices, January’s inflation would end close to 18% monthly with an interannual growth of 244.5%. Core inflation also advanced at a monthly rate of 19.5%, which represents an increase of 268.8% annually

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