The embattled South American country likely saw the consumer
price index, or CPI, advance 9% in the fourth month of the year, the median
response from 22 analysts showed, down from 11% in March and well below a peak
above 25% in December.
Libertarian President Javier Milei, an economist and former
pundit, has sought to squeeze liquidity in the markets with tough austerity
measures since taking office on Dec. 10, cutting state spending and stopping
central bank funding of the Treasury.
That has gradually helped temper monthly inflation, but hurt
activity in the real economy. The country also still has the highest annual
inflation rate in the world, creeping toward 300, which hammers people's
savings and salary levels.
Alejandro Giacoia, economist at the consulting firm
Econviews, said a controlled and gradual devaluation of the peso known as a
"crawling peg" was helping anchor inflation, while the economic
slowdown was forcing prices to slow.
"The recession also contributed to moderating the rise
in prices," he said. "In May, with the postponed regulated (utilities
price) increases, it may go down again, although these prices will have to be
corrected at some point."
Consulting firm Management & Fit said it expected
inflation to keep slowing, "driven by the contraction in demand, a product
of the situation of real wages, government spending cuts and the decision to
delay the increase in service rates."
The analysts surveyed estimated a monthly April inflation
reading ranging from 8% to a maximum 9.7%. The INDEC statistics agency is
scheduled to release the official data on Tuesday.