(RTTNews) - Argentina's annual core inflation forecast for the end of 2017 rose by 0.7 percentage point (pp) in November to 21%, according to a monthly survey conducted by the Argentinean central bank. For 2018, analysts estimated a 14.3% annual inflation, from 14% in the previous survey.

Recently, the Argentinean monetary authority gave up of its inflation target for 2017, between 12 and 17%, focusing on the target for the end of 2018, between 8% and 12%.

The monthly inflation projection increased to 1.4% in November from 1.3% in the previous survey.

Meanwhile, the economists forecast that the benchmark interest rate should remain at 27.75% until January 2018. After that, the economists consulted by the Argentinean central bank expect a gradual decrease in interest rate until reach 21% by the end of the next year.

Finally, the respondents projected that the Argentinean Gross Domestic Product (GDP) growth would reach 2.9% in 2017, 3.1% in 2018, both 0.1 pp higher than in the previous survey, and 3.2% in 2019 for the fifth consecutive survey.