Barca and Inter have been in talks over the Argentina international for almost 12 months.
However, Mundo Deportivo says the Catalans are struggling to find the necessary cash to meet Inter's asking price - which is currently set at over €100m.
The only way Barca would return to the negotiating table is if Luis Suarez leaves this summer.
Suarez has offers from MLS and should he accept a departure then Barca would immediately move for Lautaro as a direct replacement.
Otherwise, Barca are willing to wait until the summer of 2021 to sign the Inter ace.