August inflation is expected to be around 2.1%, according to the BCRA survey.

Inflation is expected to reach 2.1% in August and close 2025 with a year-over-year change of 28.2%. This is reflected in the Market Expectations Survey (REM) conducted by the Central Bank ( BCRA ).

Argentine consulting firms and financial institutions participated in the REM, where they estimated monthly inflation of 2.1% for August. This represents an increase of 0.4 percentage points compared to the previous estimate . Regarding the Core CPI, all REM participants set their estimates for August at 2.0%.

Against these forecasts, the CPI would exceed 2% for the first time in four months. For the following months, analysts estimate it will return to its downward trend , reaching 1.5% in February 2026.

In the August survey, the REM group of analysts estimated that seasonally adjusted quarterly GDP between April and June would have grown 0.1% compared to the first quarter of 2025. They also project a decline of -0.3% in the third quarter and then a further 0.6% expansion in the fourth quarter .

Within this framework, they expect an average real GDP level of 4.4% higher than the 2024 average for 2025. Thus, they reduced their economic growth expectations by 0.6 percentage points , no longer expecting them to reach 5%.

The median nominal exchange rate projection was $1.362 per dollar for the September 2025 average. For December 2025, the group of participants forecast a nominal exchange rate of $1.441/USD, yielding an expected year-over-year change of 41.2%.