BUENOS AIRES – Argentina’s government revised on Thursday its inflation target upward to 15 percent for 2018 from an earlier figure of 10 percent.
The government also set inflation targets of 10 percent for 2019, up from an earlier target of 5 percent, and 5 percent for 2020.
Cabinet chief Marcos Peña, Central Bank chairman Federico Sturzenegger, Treasury Minister Nicolas Dujovne and Finance Minister Luis Caputo discussed the new inflation targets during a press conference at the Casa Rosada presidential palace.
The earlier targets were set in January 2016, a time of “uncertainty and volatility” in the markets, but the government now has a “much clearer” idea about the inflation trend, monetary policy and fiscal policy, Dujovne said.
Argentina’s inflation rate has fallen from 40 percent two years ago to 21.2 percent on a year-on-year basis, Sturzenegger said.