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☆ Argentina retail prices seen slipping under double digits in October
▼ + stars: | 2023-11-10 | by ( Hernan Nessi | ) www.reuters.com time to read: +3 min

REUTERS/Matias Baglietto/File Photo Acquire Licensing RightsBUENOS AIRES, Nov 10 (Reuters) - Argentina's consumer prices likely rose by less than double digits in October, a Reuters poll showed on Friday, slowing down after hitting a three-decade high in September. The poll, which surveyed 19 analysts, showed consumer prices increasing by 9.9% in the month, slowing from the 12.4% rise in August and 12.7% climb in September, though they warned the slowdown would be temporary. "However, consumer prices are still going up quickly, especially considering the official exchange rate and government controls." The tightly controlled official exchange rate was devalued to 350 pesos per greenback in August, though it currently trades for nearly three times that on the informal parallel market. "The effect of August's peso devaluation was diluted, but it seems more inertia is building now than from before the previous exchange rate shock."

Persons: Matias Baglietto, Sergio Massa, Javier Milei, Lucio Garay Mendez, Massa, Garay Mendez, Jeronimo Montalvo, Hernan Nessi, Kylie Madry, Chizu Organizations: Mercado Central, REUTERS, Economy, U.S, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, Empiria

☆ Argentina retail prices to maintain double-digit rise in September - Reuters poll
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The consumer price index (CPI) rose 12.4% in August, while annual inflation topped 124% in the month. "September marks the second consecutive month with double-digit inflation," said Eugenio Mari, chief economist at the Libertad y Progreso Foundation. The projections among the analysts surveyed ranged from a minimum rise of 10.7% to a maximum of 13.8% for September. However, economist Martin Kalos estimated that September's inflation figure "is similar to that of August. The official statistics institute INDEC will publish September's inflation data on Thursday at 1900 GMT, while the central bank will release its Market Expectations Survey (REM) shortly after.

Persons: Ernesto Acuna, Agustin Marcarian, Eugenio Mari, Paula Gandara, Martin Kalos, There's, Walter Bianchi, Jorge Otaola, Jonathan Oatis Organizations: REUTERS, Libertad y Progreso Foundation, Adcap Asset Management, Economic Policy, Economy Ministry, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES

☆ Argentina retail prices to maintain double-digit rise in September, Reuters poll shows
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

This was not a WWE wrestling show, but the 2023 presidential race in Argentina where political outsider Javier Milei is the leading candidate. Argentine presidential candidate Javier Milei for La Libertad Avanza coalition gestures next to Carolina Piparo, candidate for Governor of the Province of Buenos Aires, during a campaign rally in La Plata, Buenos Aires on September 12. Milei is presenting himself as the candidate of renewal – an offer that clearly struck a chord with people in the primary vote. “I’ll vote for Milei because I think he’ll change things,” says Eduardo Murchio, a taxi driver in Argentina’s capital Buenos Aires. A worker receives Argentine peso banknotes in a shop in Buenos Aires on Sept. 26, 2023.

Persons: “, Javier Milei, –, ”, Donald Trump, Jair Bolsonaro, Carolina Piparo, Agustin Marcarian, Trump, Milei, Milei’s, Eduardo Murchio, “ I’m, it’s, Erica Canepa, Milton Friedman –, Javier Marcus, Marcus, dollarizing, Bolsonaro, Teresa Fria, Pope Francis, Pope, Satan ”, “ Pope Francis, Emiliano Lasalvia, Patricia Bullrich, Sergio Massa, Massa, Cristina Fernandez de Kirchner, Bullrich, Anita Pouchard Serra, Claudio Jacquelin, Facundo Nejamkis Organizations: CNN, WWE, Argentine, La Libertad, National Institute of Statistics, Reuters, Bloomberg, Getty, Rosario National University, Trump, Catholic, CIA, Milei, Unity, Homeland, La, Español Locations: Argentina, Mar del Plata, Argentine, Carolina, Province of Buenos Aires, La Plata, Buenos Aires, Latin America, Ecuador, El Salvador, Panama, AFP, Argentina's

It has occurred in parallel to one of the world’s highest inflation rates. The artwork then fetches prices ranging from 40,000 to 70,000 pesos domestically and as much as $300 abroad. The artists are reclaiming the currency at a time when the bills have often been the target of disdain from Argentina’s neighbors. Brazilian soccer fans have torn up peso bills as a mockery to their Argentine rivals. Inflation surged 12.4% in August from July, the highest rate of monthly consumer price increases since February 1991.

Persons: George Washington, United States ’, Donald Trump, Sergio Díaz, Diaz, ”, Diego Maradona, Lionel Messi, “ Harry Potter, Cristian English, Maradona Organizations: United, U.S ., Argentine Locations: BUENOS AIRES, Argentina, United States, U.S, Argentine, Paraguay, Washington, Salta, Chile

Argentina’s annual inflation rate rose to 124.4%, according to figures released by the government’s INDEC statistics agency Wednesday. “It’s the number that summarizes the tragedy left by Massa,” Patricia Bullrich, the presidential candidate for the main opposition coalition, wrote on social media after the inflation number was released. Political Cartoons View All 1157 ImagesRecent polls show Milei leading ahead of general elections on Oct. 22 with Massa in second place and Bullrich third. The high inflation rate is in large part a product of the government's devaluation of the local currency, the peso, by nearly 20% following the Aug. 13 primaries. Ponti said the sharp rise in prices had to do with a confluence of factors including the way that beef prices had largely remained frozen for months despite the inflationary economy.

Persons: Donald Trump, Sergio Massa, Javier Milei, “, ” Patricia Bullrich, Massa, ”, Martín Kalos, That’s, Diego Ponti, Ponti, Suchowieski, Milei, Juan Pedro Aquino, “ Massa, ” Kalos, Natacha Pisarenko Organizations: —, Massa, Epyca, ”, AZGroup, Milei, U.S Locations: BUENOS AIRES, Argentina, La Plata, Buenos Aires

☆ Argentina August inflation forecast at highest since 1991
▼ + stars: | 2023-09-11 | by ( Hernan Nessi | ) www.reuters.com time to read: +2 min

Argentina was already battling annual inflation near 115%, which is driving a painful cost of living crisis and pushing people into poverty. "August was the worst month, I would say in the last 25 years of Argentina's economy," Sergio Massa, Minister of Economy and presidential candidate for the ruling Peronist bloc, said in a recent television interview. Reuters Graphics Reuters GraphicsThe survey of 28 analysts polled by Reuters forecast monthly inflation for August ranging from 9.3% to a maximum 12.9%. Analysts also predicted inflation would likely remain in double figures for September. Reporting by Hernan Nessi; Writing by Valentine Hilaire; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Javier Milei, Sergio Massa, Eugenio Mari, Hernan Nessi, Valentine Hilaire, Josie Kao Organizations: Index, Peronist, Reuters Graphics Reuters, Reuters, Argentina's National Institute of Statistics, T Economic Advisors, Libertad y Progreso Foundation, Thomson Locations: BUENOS AIRES, Argentina

☆ Argentina's economic activity down 4.4% in June as agriculture plunges
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsBUENOS AIRES, Aug 23 (Reuters) - Argentina's economic activity fell 4.4% in June from a year earlier, the country's official statistics agency said on Wednesday, below the expectations of a Refinitiv poll of a 4.0% drop. The country's economy has been severely hit by poor performance in the agricultural sector, which registered a 40.4% drop year-on-year according to INDEC data . "The impact of the poor performance of the agricultural sector is especially strong," said economist and director of Invenomica Pablo Besmedrisnik consulting firm. "As agriculture improves its figures, the general drop rate will moderate," consulting firm Orlando Ferreres & Asociados said in a report. Reporting by Hernan Nessi; Writing by Carolina Pulice; Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Agustin Marcarian, Invenomica Pablo Besmedrisnik, Orlando Ferreres, Asociados, Hernan Nessi, Carolina Pulice, Isabel Woodford Organizations: REUTERS, Orlando, Thomson Locations: Azul, Argentina, BUENOS AIRES

☆ Argentina inflation likely sped back up ahead of primary vote, analysts say
▼ + stars: | 2023-08-11 | by ( Hernan Nessi | ) www.reuters.com time to read: +3 min

A costumer counts money before buying tangerines in a green grocery store, as Argentines struggle amid rising inflation, in Buenos Aires, Argentina May 11, 2023. REUTERS/Agustin MarcarianBUENOS AIRES, Aug 11 (Reuters) - Argentina's monthly inflation rate likely sped back up to 7.1% in July, a Reuters poll of analysts showed, a blow for the ruling Peronist coalition, which is battling to avoid defeat by the conservative opposition in primary elections on Sunday. The projections from 19 local and foreign analysts ranged from a minimum 5.9% rise to a maximum 7.9% jump in the month. Many analysts saw a tough outlook for prices in the months ahead due to economic uncertainty, fiscal imbalances, and volatility ahead of the general election in October. Argentina's INDEC statistics agency is expected to publish inflation data next week after the primaries.

Persons: Agustin Marcarian, That's, Alejandro Giacoia, Eugenio Marí, Hernán Nessi, Gabriel Burin, Adam Jourdan, Jonathan Oatis Organizations: REUTERS, Peronist, Sunday, Index, Reuters Graphics Reuters Graphics, Libertad, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, Progreso

☆ Argentines tighten wallets to fight spiraling inflation
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

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.

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

☆ Argentina economic activity slumps 4.2% in April as drought hit farming
▼ + stars: | 2023-06-30 | by ( Hernan Nessi | ) www.reuters.com time to read: +1 min

3 for corn and an important wheat supplier, but the most recent harvest was pummeled by one of the country's worst droughts in history. Government data showed that agriculture and fishing had the worst results for the month, with the former the main driver of the overall activity decline. The 'EMAE' activity index is a useful early indicator of likely economic growth. "These two sectors contributed four percentage points to the year-on-year drop in the EMAE," INDEC said. Argentina is battling inflation of over 100% and a weak peso currency, with around four-in-10 people living in poverty.

Persons: INDEC, Hernan Nessi, Carolina Pulice, Aida Pelaez, Fernandez Organizations: International Monetary Fund, Reuters, Thomson Locations: BUENOS AIRES, Argentina

☆ Argentine shoemakers and tailors buckle under 109% inflation
▼ + stars: | 2023-05-17 | by ( Horacio Soria | ) www.reuters.com time to read: +3 min

Argentina is battling one of the highest inflation rates in the world, with prices growing faster at any time since 1991, raising the specter of hyperinflation and full-blown economic crisis. What it meant for small businesses like his, he said, was supplier prices changing almost daily. The clothing and footwear sector experienced the highest monthly inflation of all categories in April at 10.8%, data from statistics agency INDEC show. In a clothing market in the capital, traders pointed to higher import prices, given volatile exchange rates. "I never used to fix clothes, but people fix clothes now because they cannot afford to buy them."

☆ Argentina’s inflation tops 100% for the first time since 1991
▼ + stars: | 2023-03-14 | by ( Stefano Pozzebon | ) edition.cnn.com time to read: +1 min

CNN —Argentina’s yearly inflation rate rose past 100% for the first time in three decades, according to new figures released by the country’s statistical body INDEC, as the government struggles to control rising prices. Prices rose 102.5% in February compared to a year before, INDEC said, placing its inflation rate amongst the highest in world. Prices rose 6.6% between January and February and 13.1% in the first two months of the year combined, according to the figures. Argentina has been battered by crippling inflation and February is the 13th straight month that the South American country reported a monthly inflation rate above 4% – generally considered a threshold for healthy economies. Among them are the ‘Dollar Malbec,’ for wine producers, ‘Dollar Qatar’ for agencies selling travel packages to the 2022 FIFA World Cup, and the ‘Dollar Coldplay’ for concert organizers.

BUENOS AIRES, Jan 12 (Reuters) - Argentina's annual inflation hit its highest rate in more than 30 years last month as prices almost doubled versus a year ago, official data released on Thursday showed, further eroding consumers' dwindling purchasing power. The annual rate marks the fastest clip of rising prices in more than three decades, or since 1991, according to INDEC. Argentina is battling one of the highest inflation rates in the world as soaring prices hamper growth and force shopkeepers to constantly update price tags. In a recent interview, Economy Minister Sergio Massa projected December inflation would not exceed 5%, adding that monthly increases should edge down to around 3% by April. "It's a psychological factor that wears you out because... wages do not increase like inflation increases," said Aurelio Narvaja, a 41-year-old teacher.

☆ Argentina inflation tops minister's forecast, annual rate at 95%
▼ + stars: | 2023-01-12 | by ( Hernan Nessi | ) www.reuters.com time to read: +2 min

BUENOS AIRES, Jan 12 (Reuters) - Argentina's monthly inflation rate stood at 5.1% in December, official data released on Thursday showed, while annual inflation in the South American country reached nearly 95% over the previous 12-month period. December's rate of rising consumer prices came in above the economy minister's expectation but slightly below analyst forecasts. In a recent interview, Economy Minister Sergio Massa projected monthly inflation would not exceed 5% in December and said the government aims for it to edge down to around 3% in April. Economists expect monthly inflation to hover around 5% at the start of 2023, driven by an economic slowdown and price cap agreements on retail products. Reporting by Hernan Nessi; Editing by Jonathan Oatis, Brendan O'Boyle and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Citing the cool-off, Argentina's central bank held its benchmark interest rate steady at 75% later on Thuesday, extending a pause on hikes after one of the world's most aggressive tightening cycles. The official INDEC statistics agency said rolling 12-month inflation in November hit 92.4%, with prices up 85.3% during the first 11 months of the year. The monthly rate, though, was the lowest since February and well below analyst forecasts of 5.9%. "It is difficult to manage a budget from one month to the next," Natalia Jones told Reuters on the streets of Buenos Aires shopping for vegetables. Eduardo Ortega, manager of a grocery shop in Buenos Aires, said it meant people were cutting back on the amount of food they could buy.

The official INDEC statistics agency said on Thursday that rolling 12-month inflation through November hit 92.4%, with prices up 85.3% during the first 11 months of the year. The monthly rate was the lowest since February and well below analyst forecasts of 5.9%. Despite the monthly slowdown, Argentines are still battling one of the highest inflation rates in the world, which eats away at wages and saps earning power. "It is difficult to manage a budget from one month to the next," Natalia Jones told Reuters on the streets of Buenos Aires shopping for vegetables. Eduardo Ortega, manager of a grocery shop in Buenos Aires, said it meant people were cutting back on the amount of food they could buy.

☆ Argentina inflation seen gaining pace again in October
▼ + stars: | 2022-11-11 | by ( Hernan Nessi | Nidhi Verma | ) www.reuters.com time to read: +2 min

Stubbornly high inflation has seen protesters take to the streets as prices have outstripped wages. The government, under pressure to reduce a deep fiscal deficit, announced a four-month freeze on consumer goods prices earlier on Friday. Jeronimo Montalvo, economist at Empiria Consultores, said monthly inflation is "holding steady around 6%" and scheduled increases in public service rates would also pressure prices in October. Econviews' Marini said that while consumer prices typically cool in November, he projects annual inflation of 101.5% by the end of the year. The INDEC statistics agency is scheduled to publish official inflation data for October next Tuesday.

☆ Argentina inflation undershoots, easing pressure to hike rates
▼ + stars: | 2022-10-14 | by ( Walter Bianchi | ) www.reuters.com time to read: +2 min

The government's INDEC statistics agency reported on Friday the monthly inflation was 6.2% last month, slower than in August and undershooting analyst forecasts of a 6.7% increase. Aldo Abram, executive director at consultancy Libertad y Progreso, said inflation would remain high into next year, before easing back ahead of presidential elections. Argentines on the street said they were increasingly struggling to afford things as prices outstripped salaries. "You have to pay attention to how much things cost because there are things that you can't pay for. You have to eliminate things from your diet because wages can't keep up," 53-year-old housewife Claudia Villalba told Reuters.

☆ Argentina inflation, highest in decades, seen at 6.7% in Sept
▼ + stars: | 2022-10-12 | by ( Walter Bianchi | ) www.reuters.com time to read: +1 min

That monthly rate would be lower that a 7% price rise in August and a July peak of 7.4%. The South American country has been battling to bring down one of the world's highest inflation rates. A poll by Argentina's central bank estimates 2022 inflation of 100.3%. The country's high inflation rate has pushed the central bank to repeatedly hike the interest rate to the current level of 75%. The bank is debating a potential new interest rate hike, a source close to the bank told Reuters on Tuesday.

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