Guido Sandleris admitted that inflation in February would be very high

The inflation forecast for this year is 25%, but private consultants already estimate that it will exceed 30%.

February 28, 2019

The president of the BCRA, Guido Sandlerisadmitted that inflation would continue to rise in February and said that "The task is more difficult than expected" although he has confidence in this "The path of monetary discipline will pay off".

At a conference at Fundación Libertad, the official said that inflation was "high" in January, at 2.9%. It is "very likely that February's inflation is also high".

"Inflation has been strong for a long time, it was only less than 10% in just 17 years out of 75. Does this mean that we have to resign ourselves to living with inflation? No way, "said the head of the BCRA, while He explained the reasons for inflation in Argentina and the path chosen to start eliminating it.

"We must not be discouraged by the results of the last decades. We will achieve lower inflation and we will do it on a solid basis, "said Sandleris in his presentation, explaining that" logically, if the rate of change and tariffs have short-term effects on inflation, these prices causing transient of it. But these corrections are necessary to sustainably reduce inflation. "

And said that "The January inflation, 2.9% monthly, was very high and it is likely that the February figure is also high."