Buenos Aires Times

economy 9.6% so far this year

Gov’t inflation target slips away as INDEC reports 2.7% in April

In light of its ongoing roll-back of utilities and public transport subsidies, the government long ago conceded that inflation would be higher in the first part of the year while insisting it would start to drop from May.

Wednesday 16 May, 2018
Minister of Finance Nicolas Dujovne.
Minister of Finance Nicolas Dujovne. Foto:Cedoc

More Economy News

The Mauricio Macri government has again been forced to step away from its 2018 inflation target after days of financial turbulence that saw the peso plummet to a record low against the dollar.

Inflation in the month of April totalled 2.7 percent, bringing total inflation for 2018 to 9.6 percent, the INDEC statistic bureau reported.

“The goal for inflation is not a forecast, rather it’s a guide for economic policy”, Cabinet Chief Marcos Peña said Tuesday. “We’re working to reduce the impact” of the weakened peso, he added.

Treasurer Nicolás Dujovne took a similar tone on Monday, saying that in 2018 “Argentina will have more inflation and less (economic) growth” than expected.

In December, the government lowered its inflation forecast from 10 to 15 percent.

In light of its ongoing roll-back of utilities and public transport subsidies, the government long ago conceded that inflation would be higher in the first part of the year while insisting it would start to drop from May.

-TIMES

 

Poll

Op-Ed

Top Stories

  1. 1Grandmothers of Plaza de Mayo receive Nobel Peace prize nominationGrandmothers of Plaza de Mayo receive Nobel Peace prize nomination
  2. 2Petrobras shares plunge 10% after it bends and offers fuel price cut
  3. 3Waiting for the end
  4. 4Facebook and Google hate journalism
  5. 5Ni Una Menos releases alarming statistics, reports 13 femicides in first 15 days of 2018
  6. 6IMF predicts brighter Brazil economy in 2018-2019
  7. 7The late Philip Roth: a generation's defining voice?
  8. 8Johnson hails ‘new, exciting’ phase in Anglo-Argentine relations
  9. 9The man on the Right has a job on the Left
  10. 10The Age of the Human Pseudo-Event