A monthly analyst poll in Argentina showed that consumer prices in the South American nation are expected to remain in triple digits despite a recent dip in inflation compared to the previous month.
The report, which comprises a poll of analysts conducted by the country’s central bank, forecast Argentina’s annual inflation this year to be 142.4%; down from the 148.9% recorded in the previous poll.
June’s prices are expected to have risen by 7.3% from the previous month according to the poll. This is a slight cooldown from the 7.8% inflation reported in May. Analysts are expecting Argentina’s consumer prices to fall to 105% by 2024.
According to the survey, economic activity in Argentina is expected to fall by 3% in 2023 compared to the previous year. The Argentinian peso, currently valued at approximately 261 per U.S. dollar, is expected to diminish in value to 408 per dollar by the end of the year. The currency is expected to fall further to 904 pesos per dollar in 2024.