Overview
- Official data show consumer prices rose 2.8% in December and 31.5% in 2025, with core inflation near 3.0% month on month and regulated items also advancing.
- Santa Fe reported food and beverages up 3.8% in December, with sharp yearly meat increases, including roughly 82% for asado.
- From January 2026, INDEC’s updated CPI uses ENGHo 2017/18 weights and broader sampling, and private recalculations put cumulative inflation since Milei’s inauguration near 270%, above the prior series.
- FocusEconomics’ consensus points to roughly 24% inflation in 2026, well above the government’s 10.1% projection, with the central bank’s REM near 20%.
- Local measurements diverge, with INDEC and Buenos Aires’ Idecba showing product price gaps up to about 40%, while Spain’s INE reports 2.9% annual inflation in December with food at 3.0% and core near 2.6%.