Inflation estimates from analysts hired by Argentina’s central bank rose for 2022, 7.5% over the previous month’s forecast to 72.6%, according to a monthly survey released Friday.

Similarly, inflation for the month of May was estimated to have been 5.2%, according to the central bank’s monthly Market Expectations Survey (REM). The survey polled 41 analysts over a period of several days.

Economic growth projections for Argentina in 2022 were somewhat reduced to 3.3%, a drop of .2 percentage points.

The third largest economy in Latin America, Argentina’s economy has been dealing with extreme inflation for years, and the condition is now only being inflamed by high energy prices due to Russia’s war on Ukraine. Now, as it begins to emerge from a long-lasting economic recession, inflation is not abating.

The polled analysts also said they expect the average nominal exchange rate in Argentina to reach 157.97 pesos per dollar in December.