By Hernan Nessi
BUENOS AIRES, March 13 (Reuters) – Argentina’s consumer price index (CPI) rose 6.2% in February, after jumping 6% the previous month, topping the 100% year-on-year ratio annual, according to the median of a Reuters poll.
Estimates from 17 local and foreign analysts gave the same percentage for the CPI average for the second month of 2023.
“February inflation would again mark an increase compared to the previous month, in this case close to 6.5% and with a great influence of the food component, mainly meat,” said Jerónimo Montalvo, economist at Empiria Consultores.
The projections of analysts surveyed ranged between a minimum and maximum lead of 5.7% and 6.5%, respectively. In contrast, the estimate of the year-over-year change through February reached a median of 101.7%.
“Behind our forecast is monthly inflation of 6% in February, which is consistent with annual inflation rising to 101.3% year-on-year from 98.8% year-on-year in January,” Goldman Sachs said. .
For the second month of the year “we estimate a monthly variation of 6.4%”, said Lucio Garay Méndez, economist at the consultancy firm Eco Go, adding that the price of “meat accelerated and made increase the ‘Food’ category because of its large weight in the basket. Housing and health are other items that have also accelerated sharply”.
According to the latest Market Expectations Survey (REM) from the Argentine Central Bank (BCRA), the CPI for the second month of the year will be 6.1%, while for 2023 it will show 99.9%.
The National Institute of Statistics and Censuses (INDEC), according to its release schedule, will release official inflation data for the previous month on Tuesday afternoon. (Reporting by Hernán Nessi; Editing by Walter Bianchi/Jorge Otaola)