ARGENTINA: Inflation Rate To Fall Sharply As Of May - Minister

(RTTNews) - The consumer price inflation rate in Argentina should be "much lower" as of May compared to the first months of 2018, said the Finance Minister Nicolas Dujovne.

Last month, the Consumer Price Index (CPI) rose 2.3% over February. Year-to-date, consumer price inflation rose 6.7% in Argentina.

"In March we had a high figure, but that was expected. We knew that these first months of the year would be like that, we are going through a hangover, but it was expected," Dujovne said in an interview with Radio Mitre.

Meanwhile, the official said that the inflation target for this year (15%) would not change. "The disinflation process is not in doubt neither for us nor the private sector. Almost all agreements between workers and employers are closing around 15%," he said.

The minister also highlighted that the March inflation had an "additional impact" due to the drought suffered by several provinces, "since it brought the price of Argentina's food products higher."