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ARGENTINA: February CPI Inflation Due, President Milei Speaks

ARGENTINA
  • February CPI inflation data will be published at 1900GMT(1500ET), with consensus for the monthly rate to remain steady at 2.3% m/m (vs. 2.2% in January). In annual terms, headline inflation is seen slowing to 66.8% y/y, from 84.5% the month before. Upside pressure is expected to come from the food component, where inflation is likely to have accelerated due to an increase in meat prices. By contrast, core inflation may have moderated from January’s 2.4% m/m pace.
    • Feb. National CPI YoY, est. 66.80%, prior 84.50%
    • Feb. National CPI MoM est. 2.30%, prior 2.20%
  • As noted previously, this week's BCRA survey revealed that analysts expect both headline and core inflation to average 1.8% m/m between February and August, falling to 1.5% m/m by the end of that period. Headline inflation is seen ending this year at 23.3% y/y, and core at 23.1% y/y.
  • On the political front, President Milei is scheduled to speak at an agriculture event in Buenos Aires at 1330GMT(0930ET).
  • In other news, Petronas is reported to be evaluating a sale of its 50% stake in La Amarga Chica, a shale oil asset in Argentina's Vaca Muerta fields.
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  • February CPI inflation data will be published at 1900GMT(1500ET), with consensus for the monthly rate to remain steady at 2.3% m/m (vs. 2.2% in January). In annual terms, headline inflation is seen slowing to 66.8% y/y, from 84.5% the month before. Upside pressure is expected to come from the food component, where inflation is likely to have accelerated due to an increase in meat prices. By contrast, core inflation may have moderated from January’s 2.4% m/m pace.
    • Feb. National CPI YoY, est. 66.80%, prior 84.50%
    • Feb. National CPI MoM est. 2.30%, prior 2.20%
  • As noted previously, this week's BCRA survey revealed that analysts expect both headline and core inflation to average 1.8% m/m between February and August, falling to 1.5% m/m by the end of that period. Headline inflation is seen ending this year at 23.3% y/y, and core at 23.1% y/y.
  • On the political front, President Milei is scheduled to speak at an agriculture event in Buenos Aires at 1330GMT(0930ET).
  • In other news, Petronas is reported to be evaluating a sale of its 50% stake in La Amarga Chica, a shale oil asset in Argentina's Vaca Muerta fields.