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Argentina economy grows 0.8% in March

Staff Writer | May 26, 2017
Argentina's economy grew 0.8% in March from a year earlier, the Indec statistics agency said. The economy also grew 1.9% in March versus February, Indec said.
Argentina manufacturing
LatAm   Twelve-month inflation through April
On Tuesday the Argentines central bank kept its benchmark interest rate at 26.25% and said it believes the country's inflation rate is easing in May.

It was the third monetary policy meeting since the bank raised its key rate on April 11, warning at the time of higher inflation expectations.

“The estimates and indicators from private and state monitors for the central bank suggest that in May the economy has returned to disinflation,” the bank said in a statement.

Consumer prices rose 2.6% in April, up from 2.4% in March, the government's Indec statistics agency said earlier this month.

Twelve-month inflation through April was 27.5%, Indec said in its first 12-month reading since President Mauricio Macri took office in late 2015.

Consumer price data published by the previous government was widely dismissed as inaccurate.

The bank is targeting 12-month inflation of 12% to 17% for the end of the year, though the latest central bank survey of economists puts it at 21%. In 2016 at 40%, Argentina had one of the world's highest inflation rates that year.