Business & Economy

Argentina inflation seen speeding up in June, ending five-month streak

A greengrocer counts Argentine peso bills at a local market,as Argentina is due to release consumer inflation data for April, in Buenos Aires

By Hernan Nessi

BUENOS AIRES (Reuters) – Argentina inflation is expected to have accelerated to over 5% in June, which would end a five-month streak of slowing price increases, according to a Reuters poll on Wednesday.

A survey of 21 local and foreign analysts forecast a median estimate of 5.1% and an mean average of 5.2% inflation for June.

The South American nation, since the inauguration of President Javier Milei late last year, has tracked slowing inflation, with levels decelerating from 25.5% in December to 4.2% in May.

The June figure is expected to break the streak. Analysts’ forecasts ranged between 4.6% and 5.6%.

Fundacion Libertad y Progreso said the acceleration was explained “more than anything by regulated prices, which registered a monthly increase of 8.6%, mainly influenced by updated gas and electricity rates.”

Consultancy Orlando Ferreres y Asociados said the increases were led by housing and transport and communication costs, at around 17% and 11% respectively, and followed by health and education, both at around 6%.

The national INDEC statistics agency is set to release its inflation data on Friday at 1900 GMT.

(Reporting by Hernan Nessi; Editing by Bill Berkrot)

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