Wednesday Mar 1, 2023 - Argentina - Inflation expectations, Man's remains found inside shark, Aviation sector future

These are the trending news headlines in Argentina on Wednesday March 1, 2023

Argentina's inflation is expected to exceed government targets, according to private estimates. Analysts predict prices will rise by 20% in the first quarter of 2022, pushing Economy Minister Sergio Massa's goal of a 3% monthly rate by April out of reach. Food prices in Argentina have surged in February, overheating the consumer price index, and taking the year-on-year variation beyond 100 percent. Private estimates for the first quarter of the year are already hovering around 20%, exposing the difficulty in curbing inflation inertia with price controls. The government's goal of closing the year at 60% is now considered unlikely by experts.

In a tragic discovery, the remains of a man who went missing earlier this month have been found inside a school shark that was captured by local fishermen in southern Argentina. The man, Diego Barría, was last seen riding his all-terrain vehicle near the coast in the southern Chubut province on Feb. 18. His family recognized his remains due to a visible tattoo. Officials are investigating the cause of Barría's death, but it is presumed to be an accident. DNA testing will be carried out to confirm the identity of the remains. Our thoughts go out to Barría's family and loved ones during this difficult time.

Argentina's aviation sector is slowly recovering from the COVID-19 pandemic, and airlines are positioning themselves for a robust rebound. Pre-pandemic, start-up low cost carriers were working to establish themselves in a market that was liberalising. With two ultra-low cost airlines and a national carrier in Argentina, there is a bit of rationality in the market. Consolidation created opportunities for Argentina’s ultra-low cost airlines, which have been able to continue on their growth trajectories. Argentina's flag carrier, Aerolineas Argentinas, is also citing a solid recovery in its operations. As the country's recovery in international demand gains momentum in 2023, its market evolution could mirror Mexico's trajectory.

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