Private analysts estimate 110% inflation for Argentina in 2023

Private analysts consulted by the Central Bank of Argentina (BCRA) projected that inflation in this country will be 110 percent interannual in 2023, the monetary entity informed today, Friday.

According to the new Relevamiento de Expectativas de Mercado (REM), 40 entities participated, including financial institutions, consulting firms, and local and international research centers; the latest projection represents an increase of 10 points above the one disclosed in March.

The private party’s estimate contrasts with the government’s inflation target of 60 percent year-on-year for the current year, as contemplated in the 2023 Budget.

Meanwhile, for 2024, the price increase forecast by analysts is 90 percent.

In addition, the survey participants forecast a 2.7 percent drop in Argentina’s gross domestic product (GDP) for the current year and an unemployment rate of 7 percent of the economically active population during the first quarter.

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