BUENOS AIRES, July 13 (Reuters) - Argentines are tightening their wallets to make end meets as the South American country battles inflation which could surpass 140% on an annual basis this year, hunting for the cheapest prices on basic goods to shield their income. Inflation in the 12 months through June hit 115.6%, official data showed on Thursday. While Argentines are on track this year to keep up their high steak consumption, higher prices are taking a bite out of their selections. Analysts forecast that annual inflation could close this year at 142.4% compared to 94.8% last year, according to a central bank poll, steadily cutting away at consumers' purchasing power in Latin America's third-largest economy. The country is seeking adjustments as rising inflation, a weakening peso and a historic drought hamper exports and financial reserves.

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Persons: INDEC, Gabriel Segovia, Sergio Massa, Annabella Paez, Horacio Soria, Sarah Morland, Susan Heavey, Diane Craft Organizations: Economy, Analysts, International Monetary Fund, Reuters, IMF, Thomson Locations: BUENOS AIRES, American, Buenos Aires, Argentine, Candelaria