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Argentina monthly inflation seen back in single digits in April

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EF:MARKETS-MACROMATTERS News

RPOLL,PRE,APOLL

Argentina's monthly inflation rate likely dipped back into single digits for the first time in half a year in April, analysts polled by Reuters estimated, amid a gradual slowdown in price rises as the country's economy stalls.

Item 1 of 2 A shopper looks at produce in a market, as Argentina is battling inflation that is running on an annual basis above 275%, in Buenos Aires, Argentina, April 11, 2024. REUTERS/Matias Baglietto/File PhotoA shopper looks at produce in a market, as Argentina is battling inflation that is running on an annual basis above 275%, in Buenos Aires, Argentina, April 11, 2024.

Libertarian President Javier Milei, an economist and former pundit, has sought to squeeze liquidity in the markets with tough austerity measures since taking office on Dec. 10, cutting state spending and stopping central bank funding of the Treasury. Alejandro Giacoia, economist at the consulting firm Econviews, said a controlled and gradual devaluation of the peso known as a "crawling peg" was helping anchor inflation, while the economic slowdown was forcing prices to slow.

Source: Financial Digest (financialdigest.net)

RPOLL PRE APOLL GRAPHC MTGFX PREV ANLINS ECI ECO GEN GFIN INFL MCE PLCY POL AMERS AR EMRG LATAM SAMER ECON PACKAGE:WORLD-NEWS

 

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