Forex - Argentina: June CPI on Expectations at 2.7% m/m, 54.8% y/y


 19:31 (GMT) 16 Jul

  [Economic Data]

Sample Premium Content
Argentina: June CPI on Expectations at 2.7% m/m, 54.8% y/y (0101-MRDQ-C01)

June inflation release supports optimism on improving macro numbers in Argentina. June inflation came at 2.7% m/m, 54.8% y/y, slightly above market consensus and right in ours. Mostly a 5% appreciation of the ARS and the delay of regulated prices increases that President Mauricio Macri decreed helped reduce inflation in the month. Core prices came slightly below our expectations at 2.7% m/m, 56.7% y/y.

Argentina: June CPI on Expectations at 2.7% m/m, 54.8% y/y (0101-MRDQ-C02)

We don't expect a significant market impact from this release, as optimism is tempered by the peso losing ground recently (the currency erased in the last two days all the gains it had accumulated since the beginning of July). For now we still expect the y/y inflation deceleration to continue, and to be more pronounced starting September. However, if the currency continues losing ground, it will start lifting inflation, which in turn upset voters and would increase ARS pressures.

Argentina: June CPI on Expectations at 2.7% m/m, 54.8% y/y (0101-MRDQ-C04)
Argentina: June CPI on Expectations at 2.7% m/m, 54.8% y/y (0101-MRDQ-C03)

CurrenciesCountriesMarket Bulletins

Latest Currency Analysis

Available to subscribers only
Order Now