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CPI Data Due Wednesday

ARGENTINA
  • Inflation expectations accelerated again in May, according to the central bank survey of economists. Analysts now forecast inflation at 148.9% for 2023 and 105.7% for 2024.
  • On Wednesday, the official statistical agency will publish the National CPI for May 2023. Itaú have noted that according to price-tracker Eco Go consulting, consumer prices increased 9.2% mom in that month and said that if this estimation is correct, the year-over-year reading will increase to 116.9% from 108.8% in April of 2023.
  • Economy Minister Sergio Massa announced on Friday that Chevron will invest $500 million in Vaca Muerta, which would help strengthen the central bank’s reserves. The company will invest $300 million by next week, with another $200 million this year depending on the advances in the investment.

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