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Argentina Inflation Ticks Up to 2.1% in September, Breaking Four‑Month Sub‑2% Streak

Exchange‑rate turbulence lifted regulated costs, pushing prices off months‑long lows.

Overview

  • INDEC reported a 2.1% monthly CPI for September, matching market consensus, with inflation now 31.8% year over year and 22.0% year to date.
  • Housing, water, electricity, gas and other fuels rose 3.1% alongside education at 3.1%, while restaurants and hotels increased 1.1%; food and beverages advanced 1.9%.
  • By category, regulated prices climbed 2.6%, seasonal items 2.2%, and core inflation 1.9%, underscoring the role of tariffs and administered costs.
  • Inflation varied across regions, with Patagonia at 2.4% and the Northeast at 1.8%, while Greater Buenos Aires aligned with the national 2.1% and Buenos Aires City registered 2.2%.
  • The result triggers automatic pension and transfer updates under Decree 274/2024 for November payments, as analysts warn of October upside risk with EcoGo tracking a 0.9% rise in the first week and projecting about 2.6% for the month.