Argentina | Inflation recorded 2.7% MoM in December and an annual rate of 117.8% for 2024

Summary

This aligns with market expectations, as outlined by BBVA (2.8%) and REM-BCRA (2.7%), and reflects a slight increase from November's rate of 2.4%. Consequently, the average price increase in the final quarter of the year was 2.6% MoM.

Key points

• Key points:
• Core inflation was 3.2% MoM (106% YoY), administered prices increased 3.4% MoM (206% YoY), and seasonal prices decreased 1.4% MoM (87.3% YoY).
• The divergence in inflation between goods and services persists, with the former increasing 1.9% MoM (96% YoY) and the latter 4.4% MoM (189% YoY).
• We have revised our 2025 inflation forecast to 30% MoM (previously, 35%), reflecting recent outcomes and the decline in the exchange rate monthly depreciation from 2% to 1%.

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