Argentina’s monthly inflation rate reached 20.6% in January 2024, according to the National Institute for Statistics and Census (INDEC, for its Spanish acronym). The category that saw the biggest monthly increase is “other goods and services,” which went up by 44.4%. It was followed by transportation, which went up by 26.3% mainly due to increases in public transportation and fuel. However, the Fund’s chief economist, Pierre-Olivier Gourinchas, said in a press conference that inflation would decrease to “single digits by the middle of this year” and could fall “even further.”The IMF calculated that the 2024 inflation rate will be around 150% and that the country’s GDP will fall by 2.8 percentage points. You may also be interested in: OECD: Argentina inflation projected to hit 251% in 2024

Source: Bueno Aires Herald February 15, 2024 11:08 UTC