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Inflation in Argentina expected to reach 95%

Economists raised their forecast for annual inflation in Argentina to 95%.

This was shown in a monthly survey published by the central bank. The country is struggling to overcome a prolonged economic crisis. The latest forecast for a sharp rise in prices is 4.8 percentage points higher than the previous month’s estimate.

Analysts believe Argentina’s inflation rose 6.5% in August, Reuters reported. According to the study, annual inflation in the South American country is expected to reach 84% by next year, and drop to 63% in 2024. Analysts polled by the central bank modestly raised their forecast for Argentina’s economic growth this year to 3.6%. Latin America’s third-largest economy has long suffered from high inflation, exacerbated by the fallout from the war between Ukraine and Russia.

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