Overview
- Private trackers and the Central Bank’s REM point to a 2.3%–2.5% monthly CPI for November, marking a third consecutive reading above 2%.
- Most projections place 2025 inflation near 30%—about 30.4% in the REM—after a midyear reacceleration from the May low.
- Analysts cite sharp meat increases, adjustments to electricity, gas and transport, and Cyber Monday effects as the main drivers, with some estimates reaching 3% or higher.
- Consensus anticipates monthly CPI could slip below 2% in early 2026 if the currency stays calm and demand for pesos strengthens, under tight fiscal and monetary policy.
- The government plans a Dec. 10 dollar bond sale (BONAR 2029N, 6.5% coupon, local law) to refinance debt without drawing down Central Bank reserves.