This monthly variation would be above the record for September, which scored 6.2%.
Estimates among 14 local and foreign analysts also showed a average advance of 6.4% for the IPC October.
The price hike in October would have been “pushed by the impact of regulated (products), clothing and the acceleration of food pricesparticularly in recent weeks,” said Isaiah Marine, consulting economist Ecoviews.
For his part, the economist Empiria Consultants, Jeronimo Montalvoexplained that inflation “maintains inertia around 6%to which they would add in the month of October scheduled increases of rates of public services”.
The projections of the analysts oscillated between a minimum and maximum advance of 5.6% and 7%, respectively, for the CPI of the tenth month.
According to median of the last Survey of Market Expectations (REM) of the Central Bank Argentina projects inflation in 2022 at 100%, 0.3 percentage points less than projected in the previous survey.
For his part in Septemberlatest data reported by the National Institute of Statistics and Censuses (INDEC), the South American nation accumulated an inflation 83% year-on-year.
“Though November is usually a month with less seasonalitywe believe that the 6% floor will fall short and we project that the year will close with an annual inflation of 101.5%Marina added.
In the third week of October, the increase in food prices averaged 1.89%, accelerating 0.26 percentage points compared to the previous weekaccording to a private survey.
The Government presents this Friday the program Fair Pricesa four-month freeze that offers the possibility of control to consumers.
The INDEC will release the official CPI data for October next Tuesday afternoon.
Source: Ambito
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