The average prediction by ten local and international analysts polled by Reuters put June inflation at 2.7pc.

"Inflation will remain below 3pc per month for the remainder of 2019," local consultancy firm Ecolatina said.

"Considering that tariff increases were concentrated in the first quarter of the year, pending calm in the exchange market, average monthly inflation will be one percentage point lower in the second half of the year in relation to the first half of the year," the firm added.

Argentina is struggling with a biting recession and economic turmoil that saw the peso currency tumble against the dollar and annual inflation climb above 50pc.

The National Institute of Statistics and Census (INDEC) is due to announce the official CPI data for June on Tuesday.