BUENOS AIRES (Reuters) – Argentina’s monthly inflation rate was 3.9% in August and is expected to end the year at an annualized rate of nearly 123%, according to analysts polled by the central bank in a poll published on Thursday.
The new forecast represents a decline of 4.75 percentage points compared to last month’s survey.
The poll predicts prices will rise 3.5 percent in September, a slowdown following a surge that followed deep austerity measures and the devaluation of the peso by libertarian President Javier Milei in an effort to curb soaring inflation.
Analysts also forecast a 3.8% annual decline in the South American economy’s real gross domestic product (GDP) in 2024, slightly lower than their previous estimate.
“Activity levels are expected to start recovering in the third quarter of the year, with an increase of 0.9%,” the survey said, while participants estimated growth would average 3.5% in 2025.
Forty-two analysts participated in the survey from August 28 to 30.
(Reporting by Nicolas Misculin; Editing by Sonali Paul)
