Analysts polled by Argentina's central bank forecast annual inflation this year at 149 per cent, above the 126 per cent expected in the previous poll, according to the monthly survey released on Friday, reports Reuters. 

For May, the analysts polled expect prices to have risen 9 per cent in the month. Inflation in April was 8.4 per cent, according to Argentina's national statistics agency.

Argentina's economy, strained by a historic drought that has worsened an ongoing currency crisis, is expected to shrink 3.0 per cent in 2023 from 2022, the survey found.