UPDATE 2-Argentina posts lower-than-expected 1.3 pct inflation in January

Source: Reuters
2/09/2017

Feb 9 Consumer prices in greater Buenos Aires rose 1.3 percent in January over the previous month, Argentina's official Indec statistics agency said on Thursday, far below market expectations and in line with the central bank's annual target.

January's reading was slightly above 1.2 percent inflation in December, but below a median expectation for a 1.7 percent rise in consumer prices in a Reuters poll.

The central bank is targeting inflation between 12 percent and 17 percent for 2017. It has kept interest rates steady for the past 10 weeks, noting that consumer prices had shown "mixed signals" in January.

Private economists see 2017 inflation somewhat higher, at above 20 percent, and say 2016 inflation totaled around 40 percent.

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