In the current survey, conducted between the 29th and 31st of last month, analysts estimated monthly inflation of 9.0% for May 2023. Meanwhile, for the whole year they pointed to inflation of 148.9%. A month ago, they said that annual inflation would be around 125%.
. After REM participants provided their forecasts to the BCRA, new information emerged suggesting that monthly inflation moderated from the 8.4% observed in April.
Both the various indicators of high frequency of wholesale and retail prices monitored by the BCRA and the CPI of the Autonomous City of Buenos Aires (7.5% increase in May) suggest a more contained evolution than in the previous month.
Those who best predicted this variable in the short term (TOP-10) expect inflation of 147.4% i.a. by 2023. In turn, they revised the forecasts for 2024 and 2025, placing inflation at 105.7% i.a. and 56.7% i.a., respectively.
Regarding the Core CPI, REM participants revised upwards their core inflation forecasts for 2023, placing it at 148.5% i.a., and for 2024, at 106.4% i.a. For the 2025 annual period, they projected core inflation of 54.8% i.a.
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