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BUENOS AIRES (Reuters) – Argentina’s monthly inflation rate is expected to have slowed to 3.5% in September, which would be the lowest monthly rate since the end of 2021, a Reuters poll of economists showed on Tuesday.<\/p>\n
That rate would be a sign of progress for the government of libertarian President Javier Milei, which has focused on taming runaway prices since taking office in December.<\/p>\n
Projections for last month’s inflation ranged from 3.1% to 4.0%, the poll of 27 Argentine and international analysts showed, giving both a median estimate and mean average of 3.5%.<\/p>\n
Argentina’s national statistics agency will publish the on Thursday.<\/p>\n
The September outlook is “very encouraging,” said Clara Alesina, an economist at the Fundacion Libertad y Progreso, a think tank. “The slowdown in general and underlying inflation reflects how the markets have reacted positively to the decisions taken.”<\/p>\n
Consulting firm EcoGO said in a report that several factors helped slow rising prices in September, including a fall in economic activity and an appreciation in parallel exchange rates.<\/p>\n
Despite the falling monthly rate of price increases, Argentines still feel the weight of three-digit annual inflation.<\/p>\n
Inflation in the 12 months through August reached 236.7%, the highest recorded in the world.<\/p>\n
Analysts polled in a central bank survey published last week expect full-year inflation for 2024 at 123.6%.<\/p>\n
(Reporting by Hernan Nessi; Editing by Mark Porter)<\/p>\n<\/div>\n