By Hernan Nessi

Monthly Inflation Update in Argentina

BUENOS AIRES (Reuters) – Argentina’s monthly inflation likely rose 2.7% last month, an acceleration from the 2.4% reading in November, according to the median expectations of analysts polled by Reuters.

Argentina’s economy has struggled against sky-high inflation, which ended 2023 at 211.4% and peaked near 300% last April. A central bank analysts’ poll released last week predicted the rate would end 2024 at 117.8% and break into double-digits this year, closing out 2025 at 25.9%.

Some 20 analysts polled by Reuters predicted monthly inflation levels ranging between 2.3% and 3.0%.

The analysts predicted a slight acceleration in December from the previous month, driven largely by food and entertainment prices due to the start of the end-of-year holiday period in the South American nation.

Consulting firm Management & Fit stated that food price hikes would be mainly driven by the price of meat, but rises were also expected in the healthcare and education sectors.

> “Despite relative stability in seasonal and regulated prices, inflation is not expected to continue on its downward path,” said Ignacio Ruiz, an economist at consulting firm Ecolatina, pointing to an expected 6% to 7% increase in meat prices.

Ruiz predicted core inflation, which excludes some especially volatile food and energy prices, would be around 3% in December.

Clara Alesina, an economist at the Fundacion Libertad y Progreso, a think tank, mentioned that 2024 has been marked by “notable progress in economic stabilization.”

> “This deceleration trend is expected to continue, bringing annual inflation to levels below 30%, which would mark the lowest level since 2017,” Alesina said.

Argentina’s INDEC statistics agency is expected to publish its December inflation data on Tuesday.