BUENOS AIRES (Dow Jones)--Argentines' expectations for future inflation were unchanged in July from the previous month, according to a closely watched survey of consumers. Torcuato Di Tella University said Wednesday the median projection for inflation over the next 12 months was 25% in July.
The national statistics institute, Indec, will publish its consumer price index at 1700 GMT Wednesday.
The gap between the median expectation estimate for inflation and what economists think the government will say inflation actually is now stands at 13.2 percentage points, Di Tella reported.
"The magnitude of this gap shows the costs of not having an official price index that is credible," Di Tella said in its report.
Di Tella said inflation expectations were similar for both high- and low-income Argentines.
However, the median inflation expectation in the city of Buenos Aires, home to almost a third of the country's population, was higher, at 30%.
Most private-sector economists said real inflation is two to three times higher than the official Indec rate.
The average expectation for inflation was 32.5% in July, which is also unchanged on the month, Di Tella reported.
Di Tella's survey was carried out with 1,205 people around the country by the polling firm Poliarquia. The survey was conducted from July 1 through July 12 and has a margin of error of plus or minus 3.5%.
-By Taos Turner, Dow Jones Newswires; 5411-4103-6728; This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Source: http://online.wsj.com/article/BT-CO-20100714-709151.html
