Argentina | October inflation above expectations, core inflation eased

October inflation in Argentina was 2.2% m/m, exceeding expectations. However, core inflation (1.5%) hit a 15-month low, confirming the disinflation trend. The 2026 forecast was revised up from 29.5% to 31%.

Key points

• Key points:
• Core inflation was 1.5% m/m (30.7% y/y), decelerating from 1.7% in September and marking the lowest monthly figure in 15 months.
• Regulated prices rose 2.9% m/m (43.7% y/y), the highest reading in 6 months, mainly driven by the increase in "Housing, water, electricity, gas and other fuels" (4.2% m/m).
• Seasonal prices accelerated sharply to 5.5% m/m, due to a 10.5% m/m rise in vegetables and legumes.
• For November, further increases in regulated prices are expected: transportation will rise by around 4%, and electricity and gas tariffs will also be adjusted.

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