In May, Argentina reaffirmed its leadership position both globally and regionally in terms of inflation. According to data from the. Although in comparison with April fell 4.6 percentage points, the year-on-year figure was 276.4%as reported this day by INDEC. It is worth remembering that the Government of Javier Milei had postponed increases last month that were key to this sharp decline in the general price increase.
Projections for June suggest an even more significant rebound, reaching between 6% and 7%. This increase is mainly attributed to the adjustment in public service rates, Inter alia. Milei highlighted the importance of monitoring core inflation and downplayed concerns regarding the impact of public services on the overall index.
Compared to other countries in the region, Argentina continues to lead easily. Although Venezuela registered an increase of 3.9% in monthly prices and 78% year-on-year according to the OVF, Argentine inflation remains the highest. In the global context, Turkey came in third with a 75% increase in the last year, followed by Lebanon with 58%.
Inflation projections, according to different organizations
The International Monetary Fund (IMF) revised its estimates for Argentina, projecting inflation of 149% for this year and 59% for next. In its evaluation of the program with the country, the apex bank stressed the need to consolidate disinflation and strengthen the central bank’s international reserves.
Meanwhile, the World Bank recently highlighted that the increase in prices in the country is driving up the regional average, although the trend shows signs of moderation in both general inflation and expectations.
food fruits vegetables inflation supermarkets consumption prices
So far this year, inflation has risen 71.9%.
Reuters
Despite expectations of a double-digit decline next year, For the moment, Argentina seems destined to maintain its position on the global inflation podiuma situation that continues to challenge the country’s economic policies and the expectations of international organizations.
In Latin America, annual inflation was 7.1% and May 0.4%; Mexico was fourth with 4.7% (-0.25 in the month); Paraguay 4.4% (0.4%); Uruguay 4.1% (0.4%); Bolivia 3.5% (0.6%); Chile 3.4% (0.3%); and Ecuador 2.5% (-0.1%). As for the rest of the continent, the United States would end up with a price increase of 2.7% this year and 1.9% in 2025, Canada 1.2% and 2.3% and Mexico 2.7% and 1. 9%, respectively.
Furthermore, in Colombia it would reach 6.4% and 3.6%, Uruguay 5.8% and 5.5%, Bolivia 4.5% and 4.2%, Paraguay 3.8% and 4%, Chile 3, 2% and 3% and Peru 2.3% and 2%.
