Argentina: Consumers predict inflation will hit 45% this year

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(The Buenos Aires Times)

New survey reveals consumers expect prices to soar over next year; International Monetary Fund cuts Argentina’s growth forecast for 2021, predicting 4.5% rise in GDP this year.

Consumers in Argentina expect prices to rise by a whopping 45 percent this year, with many anticipating a surge in inflation over the next 12 months.

The latest version of the Inflation Expectations Survey, prepared monthly by the Centre for Finance Research at the Torcuato Di Tella University, revealed that the majority of consumers believe inflation will come rocketing back this year.

According to the median of responses, inflation of 45 percent is anticipated in 2021. Average responses put the figure slightly lower, at 44.1 percent.

The survey’s authors said the results were a sharp rise on the previous month, indicating growing pessimism over the state of Argentina’s economy.

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