Argentina | August inflation was 4.2% MoM, accelerating in the core component

August inflation was 4.2% m/m and core inflation accelerated again. We revised our 2024 projection from 135% to 130% due to a longer than expected exchange rate crawling peg.

Key points

• Key points:
• Inflation was between 4% MoM and 4.6% MoM for the fourth consecutive month.
• The most noticeable fact was the acceleration of core inflation for the second consecutive month.
• We revised our annual inflation forecast for 2024 from 135% to 130%, while maintaining the assumption that there will be some gradual easing of certain exchange rate controls before the end of the year.

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