March 3, 2020 / 11:52 PM / a month ago

Argentina's 2020 inflation rate forecast eases to 40% -central bank poll

BUENOS AIRES, March 3 (Reuters) - Argentina’s inflation rate will be 40% in 2020, according to a central bank poll of analysts released on Tuesday, down from an estimated 41.7% in the same poll taken by the monetary authority a month earlier.

But expectations were for milder consumer price increases of 30.5% in 2021 and 27% in 2022. The survey of 43 analysts estimated inflation was 2.5% in February alone.

Gross domestic product in the crisis-hit country was estimated in Tuesday’s poll to shrink 1.2% this year, versus the 1.5% contraction forecasted in the previous month’s central bank poll of economists.

The analysts polled by the bank said they expected economic growth to recover to a positive 1.7% in 2021 and 2.0% by 2022.

The poll was taken from Feb. 26 to Feb. 28. (Reporting by Walter Bianchi and Hugh Bronstein Editing by Sonya Hepinstall)

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