Argentina | The 2.7% m/m inflation rate in October was below expectations

Summary

This is the lowest monthly value since November 2021, the last month in which monthly inflation started at 2. Prices are moving closer and closer to the official exchange rate peg, which is one of the government's main targets.

Key points

• Key points:
• The rate of core inflation was 2.9% m/m (182% y/y), representing the first time since September 2020 that it has fallen below 3.0%.
• The differentiation in the dynamics of goods and services persists, with goods already travelling at the monthly rate of the exchange rate guideline and services remaining above the general level.
• Our annual inflation forecast has been revised downwards to 120% by December 2024 (previously 125%).

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