Annual inflation in Argentina could reach this year at

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Economists have raised their estimate of annual inflation in Argentina this year to 95%, according to a monthly survey published by the Central Bank, as the country struggles to overcome a prolonged economic crisis marked by rising prices, writes Reuters, according to Spotmedia .

The latest forecast for consumer price growth is 4.8 percentage points higher than the previous month’s estimate.

Analysts estimated that Argentine inflation rose 6.5% in August.

By next year, the annual inflation rate in the South American nation is expected to reach 84%, and in 2024 it will decrease to 63%, according to the survey.

Analysts polled by the Central Bank moderately raised their forecast for Argentina’s economic growth this year to 3.6 percent, up just 0.2 percentage points from last month.

Latin America’s third-largest economy has long suffered from high inflation, which has been exacerbated by the effects of the war between Ukraine and Russia.