BUENOS AIRES (Dow Jones)–Argentines’ expectations for future inflation were unchanged for the 12th consecutive month in February, according to a closely watched survey.
Torcuato Di Tella University, or UTDT, said late Wednesday that the median projection for inflation over the next 12 months is 25%.
The expectation for inflation based on the statistical average was 30.7%, up from 28.9% a month ago.
Officially, the national statistics agency, Indec, said inflation last year was under 10%, but private-sector economists doubt that figure and say Indec routinely cooks the books to make data appear exceptionally rosy.
Indec officials deny these charges and say their data have never been more accurate than they are today.
The median expectation for inflation was 25% in the capital city of Buenos Aires, but 30% in the country’s interior.
Inflation expectations were also similar among income groups, with both lower- and upper-income Argentines expecting inflation to total 25% over the next year.
Most economists say annual inflation easily surpasses 20%.
-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; taos.turner@dowjones.com
Source: online.wsj.com