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Argentina is on the podium of the countries with the most inflation in the G20 – Nexofin

After the April Market Expectations Survey (REM) published by the Banco Central, inflation expectations continue to grow. Market analysts predicted that the Consumer Price Index (CPI) will increase by 65.1% in 2022. The number soared 5.9% from last month’s estimates.

REM participants also revised inflation forecasts for 2023, placing it at 50.5% year-on-year, which showed a rise of 3.1% more than the REM for March. And for 2024 they estimated an inflation of 43.7% year-on-year, that is, 2.8% higher than the previous survey.

Refering to core inflation the consultants estimated that it would reach 64,2% year-on-year at the end of 2022, 4.2% more than the March survey.

Due to high inflation, wages lose more than 20% of real purchasing power

On the other hand, the consultants indicate that they expect a growth of the Gross Domestic Product (GDP) for 2022 of 3.5%0.3% more than the previous REM.

Regarding the exchange rate, the REM analysts slightly corrected their monthly projections and they expect it to reach $155 per dollar in December 2022and that it is located at $226 per dollar at the end of 2023.

As for the unemployment rate, it fell to 7,5% in the Economically Active Population (PEA) in the first quarter of 2022. And for the second quarter it is expected to fall to 7.9% and 7.8% in the third.

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