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