CMA Latam
Buenos Aires, 23 - Inflation in Argentina will be around 21% or 22% per year in July and decline in the coming months, said Federico Sturzenegger, President of the Central Bank of Argentina (BCRA), yesterday during a speech at the 9th Fundación Libertad's Economy and Business Forum. He added that inflation would reach the Central Bank's target range (12%-17%) in five months. "It will be the lowest inflation level since 2009. We must consolidate this process until Argentina finally reaches figures similar to those of other countries in the region by 2019," Sturzenegger said. The economic analysts' forecasts summarized in the Central Bank's Market Expectations Survey suggests that inflation in the next 12 months will be at 17.4%, and will reach 15% per year by 2018. "It is necessary that by the end of the year we will be in monthly inflation levels compatible with the target of the coming year. To reach this goal, we will continue to seek to ensure an adequate monetary policy bias to consolidate the disinflation process and follow this downward path," said Sturzenegger. Julieta Marino / Agência CMA Translation by Ricardo Gozzi