Publications

In May 2025, the CPI fell by 0.06%, mainly due to lower food prices, particularly poultry products, following previous increases. Electricity rates and fuel prices also declined, reflecting lower international oil prices.

April national inflation was 2.8% m/m (47.3% y/y), placing it below expectations (REM-BCRA: 3.2% m/m, BBVA Research: 3.4%) as a result of a more virtuous exchange rate dynamics -post easing of restrictions- than initially expected.

The CPI increased 0.81% month-over-month in March, driven by weather anomalies and the adjustment in student pensions. In contrast, the decrease in transportation prices and the return to normal fare prices after the Carnival holidays helped moderate inflation.

In 2025, GDP is expected to grow by 5.5%, driven by consumption and investment, within a context of disinflationary consolidation and fiscal-monetary discipline. However, two key challenges remain: maintaining fiscal austerity during an election year and making significant progress in normalizing the foreign exchange market

The consumer price index increased 0.19% m/m in February affected by adverse weather conditions (they negatively impacted the normal supply of some foods) and the greater demand for transportation due to carnivals. On the contrary, the decrease in electricity rates attenuated the advance of the CPI.

anuary inflation was 2.2% MoM (84.5% YoY), in line with expectations (BBVA: 2.3% and REM-BCRA: 2.3%) and down from 2.7% in December.

The consumer price index contracted 0.09% m/m in January. The result for the month is mainly explained by the seasonal normalization after the end of the year holidays (price of poultry products and transportation rates). The interannual inflation rate was 1.9% in January.

With the beginning of the year, many of us are making our budgets, and understanding how prices changed in 2024 and how they will change in the future is an important starting point in this task.