Argentina's central bank will slow the rate of the local peso's devaluation, it said on Tuesday, after new data showed annual inflation slowing in December and as the central bank sees continued progress on inflation. Beginning in February, the rate, known as the crawling peg, will slow to 1% per month from a prior rate of 2% due to "the consolidation observed in the inflationary trajectory during the last few months, and in the expectations of a decrease in inflation," the central bank said in a statement.