After the PASO, INDEC releases July inflation

After the shock caused by the overwhelming victory of Javier Milei in the PASO, the INDEC announces this afternoon the inflation of July. After the drop recorded in June, the private sector estimates a floor of 7% for last month and adjusts its expectations for the coming months. In the latest Market Expectations Survey published by the Central Bank, consultants and private analysts projected a rise of 7.6% for last month and a slight slowdown for August. However, the jump in the official dollar made the private sector recalibrate its expectations and there are many who foresee inflation entering the double-digit terrain for August. What they expected before the PASOIn the last REM, private analysts relieved by the Central Bank expected an acceleration in the rise in prices. After the slowdown last month, they expected inflation to range between 7.5 and 8% until November, when, according to their forecasts, it would return to the order of 8%. Thus, the price increase would close 2023 around 140%. However, last Sunday’s results and the subsequent economic measures adopted by the Central Bank recalibrated the projections.

Original source in Spanish