Argentina August inflation forecast at highest since 1991 kitco.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitco.com Daily Mail and Mail on Sunday newspapers.
Argentina's Consumer Price Index (CPI) likely rose 11.8% in August, which would be the highest monthly figure since 1991, according to a Reuters poll of analysts on Monday, after a sharp devaluation of the local peso currency last month. The country's government devalued the currency by nearly 20% in mid-August after radical libertarian Javier Milei, who wants to axe the central bank and dollarize the economy, won a shock 30% of the vote in the country's open primary election. Argentina was already battling annual inflation near 115%, which is driving a painful cost of living crisis and pushing people into poverty.
BUENOS AIRES (Reuters) -Argentina s economy likely grew 1.5% year-on-year in the first quarter of 2023, a Reuters poll of analysts showed, as central bank spending to prop up the peso and boost exports helped offset a historic drought that hurt grains production.