The Organization for Economic Co-operation and Development (OECD) has nearly doubled its inflation forecast for Argentina since November. According to its February 2024 Economic Outlook interim report, the organization expects prices in Argentina to soar by 250.6% in 2024, up from its 134.5% forecast in November. “High inflation and sizable fiscal tightening are projected to result in an output decline in Argentina in 2024 before growth recovers in 2025 as reforms start to take effect,” the report noted. Its inflation forecast for 2025 is 64.7%. It was also the highest 2023 inflation rate in Latin America, surpassing Venezuela’s, which was 193% according to the Venezuelan Finance Observatory.

Source: Bueno Aires Herald February 05, 2024 19:54 UTC