BUENOS AIRES (Reuters) - Argentine inflation likely climbed 4.0% in April, according to a Reuters poll on Monday, still high but marking a deceleration from the rise in prices a month earlier, a potential relief for under-fire President Mauricio Macri.
The recession-hit Latin American nation has been grappling with stubborn inflation running at an annual rate of over 50 percent. Consumer prices were up 4.7% in March and the rises have been speeding up since the start of the year.
Macri’s bid to win re-election in a presidential ballot in October will likely be closely tied with his government’s ability to rein in inflation that has hammered voters’ wallets and dragged on economic growth.
The 11 local and international analysts consulted added that despite registering a slowing in monthly inflation, annual inflation would still come in above 50 percent. The main driver for April inflation was food and drink prices.
The analysts’ projections ranged from a minimum increase of 3.7% and a maximum advance of 4.2% for retail prices.
Argentina’s statistics authority, the National Institute of Statistics and Censuses (INDEC), is expected to announce official inflation data on Wednesday afternoon.
Reporting by Hernan Nessi; Writing by Adam Jourdan; Editing by Lisa Shumaker