National inflation for October was 2.3% monthly (31.3% annually), exceeding estimates. It is the highest monthly value since April, but a reversal is expected in November due to exchange rate stability and the dissipation of electoral uncertainty.

Since July, a combination of interest rate volatility and the electoral outcome in the Province of Buenos Aires has generated renewed tensions in financial markets. Higher rates, exchange rate pressures and weaker confidence have led to a slowdown in economic activity.