According to a monthly survey published on Friday (9) by Argentina’s Central Bank, economists have raised their estimate of annual inflation in the country this year to 95 percent.
The South American nation has struggled to overcome a prolonged economic crisis characterized by sharp price increases.
Thus, the latest forecast for the increase in consumer prices is 4.8 percentage points higher than last month’s forecast.
Latin America’s third-largest economy has long suffered from high inflation, exacerbated by the war between Ukraine and Russia.
Next year, the survey said the annual inflation rate in neighboring Brazil, Bolivia, Chile, Paraguay and Uruguay is expected to reach 84 percent, falling to 63 percent by 2024.
Survey participants also expected Argentina’s average official exchange rate to reach 170.11 pesos to the US dollar in December, despite Argentine traders increasingly turning to the black market.
