Argentina inflation seen speeding up in June, ending five-month streak
11:04 am Wednesday, July 10th, 2024
By Hernan Nessi
BUENOS AIRES (Reuters) – Argentina inflation is expected to have accelerated to over 5% in June, which would end a five-month streak of slowing price increases, according to a Reuters poll on Wednesday.
A survey of 21 local and foreign analysts forecast a median estimate of 5.1% and an mean average of 5.2% inflation for June.
The South American nation, since the inauguration of President Javier Milei late last year, has tracked slowing inflation, with levels decelerating from 25.5% in December to 4.2% in May.
The June figure is expected to break the streak. Analysts’ forecasts ranged between 4.6% and 5.6%.
Fundacion Libertad y Progreso said the acceleration was explained “more than anything by regulated prices, which registered a monthly increase of 8.6%, mainly influenced by updated gas and electricity rates.”
Consultancy Orlando Ferreres y Asociados said the increases were led by housing and transport and communication costs, at around 17% and 11% respectively, and followed by health and education, both at around 6%.
The national INDEC statistics agency is set to release its inflation data on Friday at 1900 GMT.
(Reporting by Hernan Nessi; Editing by Bill Berkrot)
