May’s Inflation printed at 2.1% m/m, the lowest in eight months

Summary

Argentina's May headline inflation dropped to 2.1% m/m, its lowest level in eight months and below market expectations. We maintain ouryear-end inflation forecast at 29% for 2026.

Key points

• Key points:
• Core inflation fell to 1.9% m/m, while the headline deceleration was mainly driven by the normalization of gasoline prices.
• The disinflation trend is expected to persist, with June inflation projected at 2.0% m/m despite scheduled regulated price hikes.

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