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ARGENTINA: Disinflation Process To Continue, Says Central Bank Governor

(Agencia CMA Latam) - In the last 14 months, the average inflation rate in Argentina fell to 1.6% per month, which implies an annualized rate of 21%, the lowest rate in 7 years, said the governor of the South American country's central bank, Federico Sturzenegger.

"During the last four months, the average rate has been 1.4%, which annualized represents an inflation of 18.2%. But the most important thing is that we are facing a process of deceleration that will continue going ahead," said the official at the 65th Annual Convention of the Argentinean Chamber of Construction.

Market expectations released by monetary authority indicate that the inflation rate expected for the next 12 months is at 16.9%, while for 2018 is at 15.8%and for 2019 at 11%.

"These numbers are above our targets of 10% per year, with a two percentage points margin for 2018, and 5%, with a 1.5 percentage point margin for 2019. So we still have a credibility gap that we need to close in the coming months," Sturzenegger said.

by Agencia CMA Latam

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