the data for May is known and the Government expects a slight moderation

The National Institute of Statistics and Censuses (INDEC) will publish this Wednesday the 14th the Consumer Price Index (CPI) for the fifth month of the year, which will serve to settle the differences in forecasts between private surveys and the Executive estimate. The Survey of Market Expectations (REM), released by the Central Bank (BCRA), showed that analysts estimated monthly inflation of 9% for May. In this way, the forecast was 1.6 percentage points higher than in the previous survey and reached 148.9 percent annually.

What do economists expect?

The survey of retail prices of the S&T consultant for Greater Buenos Aires, it exhibited a monthly increase of 8.7%, surpassing the variation of April and May of last year.

The CPI for GBA of ecolatin, for its part, reached 8.9% monthly. In this way, so far this year prices have marked a rise of 42.2 percent, against the 28.1% registered in the same period of 2022.

Meanwhile, the survey carried out month by month by the Freedom and Progress Foundationshowed that inflation in May would amount to 9.1%, while since Focus Market They anticipate an increase in the CPI of 8.7%.

As in April, during May the impact of the rise in free dollars was felt, along with the increase in different items, such as prepaid, tolls, fuel, taxis, public transportation, private schools, electricity and gas services, among others.

Last Wednesday, inflation for May was released in the City of Buenos Aires, which reached 7.5% and showed a slight slowdown compared to April. Thus, it was well below private estimates.

From the Government, they take this indicator to support the expectation for a data that reflects a decrease in the inflationary inertia of the last months.

The Minister of Economy, Sergio Massa, expressed himself in this direction, specifying that “According to the indicators managed by Economic Programming, which is in charge of Gabriel Rubinsten, the CPI data would be in line with the inflation of the City of Buenos Aires that came out last week and that was a little lower than April.”