August 2, 2018 / 9:23 PM / 19 days ago

Economists hike 2018 Argentina inflation forecasts, see negative growth

BUENOS AIRES, Aug 2 (Reuters) - Economists hiked their median expectations for Argentina’s 2018 inflation to 31.8 percent this year, according to the central bank’s monthly survey, up from 30 percent last month.

The survey of 52 analysts also showed median expectations for a 0.3 percent economic contraction this year, down from 0.5 percent growth last month. The economy is suffering from a severe drought that devastated the agricultural sector, and a run on the peso currency that prompted the government to turn to the International Monetary Fund. (Reporting by Luc Cohen)

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