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ARGENTINA: CPI Inflation Expected To Moderate Further In January

ARGENTINA
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  • Monthly CPI inflation is expected to moderate to 2.3% m/m in January, from 2.7% the month before, according to the median estimate of surveyed economists (1900GMT/1400ET). In annual terms, headline inflation is seen slowing to 84.7% y/y, from 117.8% previously.
    • Jan. National CPI YoY, est. 84.70%, prior 117.80%
    • Jan. National CPI MoM est. 2.30%, prior 2.70%
  • JP Morgan expects core CPI and ex. food core CPI inflation to decelerate further as well. They note that high-frequency data suggest that core inflation will break its stickiness, printing at 1.9% m/m, well below the 2.9% 3mma pace through December. Meanwhile, their preferred metric of underlying inflation (core ex-food) would print at 1.8% m/m, also decelerating from 3.0% 3mma through December.
  • In other news, Nissan is said to be considering plans to cut production in Argentina, according to a report in Nikkan Kogyo. Nissan may stop production of its Frontier pickup truck at its Santa Isabel plant and will also reconsider additional investments that had previously been announced.
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  • Monthly CPI inflation is expected to moderate to 2.3% m/m in January, from 2.7% the month before, according to the median estimate of surveyed economists (1900GMT/1400ET). In annual terms, headline inflation is seen slowing to 84.7% y/y, from 117.8% previously.
    • Jan. National CPI YoY, est. 84.70%, prior 117.80%
    • Jan. National CPI MoM est. 2.30%, prior 2.70%
  • JP Morgan expects core CPI and ex. food core CPI inflation to decelerate further as well. They note that high-frequency data suggest that core inflation will break its stickiness, printing at 1.9% m/m, well below the 2.9% 3mma pace through December. Meanwhile, their preferred metric of underlying inflation (core ex-food) would print at 1.8% m/m, also decelerating from 3.0% 3mma through December.
  • In other news, Nissan is said to be considering plans to cut production in Argentina, according to a report in Nikkan Kogyo. Nissan may stop production of its Frontier pickup truck at its Santa Isabel plant and will also reconsider additional investments that had previously been announced.