Monthly inflation in Argentina slows more than estimated

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(Bloomberg) – Argentina’s monthly inflation declined more than expected in August to a 13-month low as living and food costs lost some momentum.

Consumer prices rose 2.5% in August from the previous month, the lowest level since July 2020 and lower than economists’ median estimate of a 2.9% increase. Annual inflation in August reached 51.4%, one of the highest levels since President Alberto Fernández took office in December 2019.

Inflation has slowed since March, as the government tightened its grip on the peso’s decline, known as the “crawling peg,” in an effort to anchor expectations. It has also tightened price controls and restricted beef exports as part of its inflation strategy.

Economists expect prices to accelerate again in November, according to the central bank survey. The government is also preparing to push for welfare payments ahead of the elections after poor results in the primaries last Sunday. Higher spending could affect prices and also the weight.

Nota Original:Argentina’s Monthly Inflation Cools More Than Expected to 2.5%

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