translated from Spanish: Cafiero delivered inflation projections between 38 and 43%

The chief of staff of ministers, Santiago Cafiero, complied on Thursday with article 101 of the National Constitution that urges him to attend the chambers of Congress once a month to provide a management report. There Cafiero received questions from the senators, mainly from the opposition, including the neuquina Lucila Crexell, who consulted for measures to control inflation. 

President Alberto Fernández’s right-hand man responded with the Market Expectations Survey (REM), which brings together the projections made by consultants near the Central Bank. According to this report, market analyses estimate that retail inflation by December 2020 will be 43.3% year-on-year. This represents a decrease “by 1.2 p.p. from the estimated level in forecasts provided at the end of April”.

“Meanwhile, the top 10 short-term forecasters (TOP-10) for this variable expect an average inflation 4.5 percentage points lower than that projected by all participants, 38.7%,” says the report published by the Central Bank and on which it based its response Cafiero.Si the analyses were met, the price hike would be between 10 and 15 points below that recorded during 2019 , which was at 53.8%.

Original source in Spanish