Analysts now predict that Argentina’s inflation for 2023 will reach 185%, up from an earlier forecast of 180.7%.
The Central Bank of Argentina (BCRA) shared this information. They based this on a recent Market Expectations Survey (REM).
This survey included insights from 38 experts. These experts are from consulting firms and research centers, both local and international.
Financial institutions in South America also contributed. The analysts also looked at Argentina’s economic performance.
They expect the Gross Domestic Product (GDP) to be 2% lower than in 2022. However, this is an improvement of 0.8 percentage points from previous estimates.
Notably, the third quarter shows promise. For this period, experts foresee a 2.3% growth in quarterly GDP. Previously, they expected a 0.5% contraction for the same quarter.
Further, the survey indicates changes in the exchange rate. From November, the rate is predicted to be 381.8 pesos per dollar.
This is an increase from the current rate of 350 pesos per dollar. The rate might reach around 811.8 pesos per dollar from December to April.
Regarding employment, the survey suggests a trend. The open unemployment rate for the third quarter is projected at 6.9% of the active workforce.
Lastly, Argentina’s inflation rate in October was 8.3%. The cumulative price increase for the year stood at 120%.
In year-over-year terms, this increase was 142.7%. These are the latest figures from official sources.
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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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