Consumer prices in Argentina's six main regions climbed 2.6 percent month-over-month in December 2018, down from a 3.2 percent rise in the previous. It was the lowest monthly inflation since May, as prices increased at a slower pace for food & beverages (1.7% vs 3.4% in November), mainly explained by sharp declines in prices for potatoes (-18.1 percent) and lettuce (-14.1 percent). Also, transport prices increased at a softer pace of 2.4 percent (vs 2.7 percent). In contrast, prices for utilities (3.0 percent vs 2.1 percent) and communications (7.7 percent vs 3.0 percent) increased at a faster clip. Considering the great Buenos Aires only, inflation was 2.8 percent, declining from 2.9 percent in the previous month. On an annual basis, consumer prices jumped by 47.6 percent (vs 43.9% in November), hitting the highest level since 1991. Inflation Rate Mom in Argentina averaged 2.24 percent from 2014 until 2018, reaching an all time high of 6.50 percent in April of 2016 and a record low of 0.20 percent in August of 2016.
Inflation Rate Mom in Argentina is expected to be 3.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate Mom in Argentina to stand at 2.70 in 12 months time. In the long-term, the Argentina Inflation Rate MoM is projected to trend around 2.30 percent in 2020, according to our econometric models.