MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Unnamed Officials See Aug. Inflation Above 10% M/m

ARGENTINA
  • According to unnamed government officials, BCRA expect monthly inflation in August to have accelerated to 10.6%, which is almost double the pace of July. This is the fastest monthly rate in three decades and comes following the substantial Peso devaluation. Still, this projection is below forecasts by private economists.
  • The local consultancy firms EcoLatina, EcoGo and Consultora Ledesma estimate the monthly inflation to be between 10.8% and 13%. “We’re seeing a very elevated pass-through because this devaluation occurred in the context of high uncertainty, little government credibility and very few reserves,” research chief at EcoLatina said.
  • Separately, the Argentine Peso tumbled to a record low of 800/USD in the parallel market on Tuesday. The spread between this parallel peso and the official rate, which is 350/USD, widened to 128.5%, the highest since July last year.
    • This follows Economy Minister Massa’s measures to boost government wages and funnel money toward retirees and poorer families, against the IMF appeal for lower spending.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.