March 6, 2019 / 10:20 PM / 7 months ago

Argentina 2019 inflation forecast increases to 31.9 pct -cenbank poll

BUENOS AIRES, March 6 (Reuters) - Economists have raised their forecast for Argentina’s 2019 inflation rate to 31.9 percent from a previous estimate of 29.0 percent, according to the median forecast in the central bank’s monthly poll of analysts released on Wednesday.

The median forecast for Argentina’s expected 2019 economic contraction was 1.3 percent versus a previous estimate of 1.2 percent, according to the survey of 55 economists.

Inflation increased nearly 50 percent in 2018, driven by a run on the local peso currency.

President Mauricio Macri will face a challenge when he seeks a second term in October while enforcing an austere budget as part of Argentina’s $56.3 billion deal agreed with the International Monetary Fund last year. (Reporting by Maximilian Heath; writing by Cassandra Garrison Editing by Alistair Bell)

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