Overview
- INDEC reported on Thursday that consumer prices rose 2.2% in October, bringing the year-to-date increase to 26.3% and the 12‑month rate to 33.1%.
- The statistics office said the largest contribution came from housing and utilities after gas tariff schedules changed and the Zona Fría subsidy regime was altered, while seasonal food prices also jumped sharply.
- Core inflation, which excludes regulated and seasonal items, fell to 1.5%, its lowest in about 15 months according to the Economy Minister, showing underlying price momentum is weaker than the headline number.
- Private consultoras and the BCRA REM had forecast about 1.8% for October, so the surprise has led analysts to nudge November and December monthly forecasts toward roughly 1.7–1.8% and to expect annual inflation well above the Budget target.
- Regional results varied: Pampeana, Patagonia and Cuyo rose faster than the national average while NOA and NEA were lower, and households face concentrated pressure from rents, health plans, transport and energy bills.