Argentine inflation seen surging to over 65% this year: central bank poll

ARGENTINA'S inflation rate is expected to reach 65.1 per cent this year, according to a poll of analysts consulted by the central bank and released on Friday (May 7), in a jump of consumer prices partly attributed to collateral damage from Russia’s invasion of Ukraine.

The survey’s projection is nearly 6 percentage points higher than the previous poll published one month ago.

The survey, which consulted 42 analysts from Apr 27-29, also estimated the April inflation rate at 5.6 per cent and an economic growth rate of 3.5 per cent for the year.

Those surveyed expect the average currency exchange rate to reach 155 Argentine pesos per US dollar by December, and reach 226 pesos per greenback by the end of 2023.