Argentina Inflation Ticks Up to 2.3% in October as Annual Rate Drops to 31.3%, Lowest Since 2018

Overview

• Indec reported a 2.3% monthly rise for October, up from 2.1% in September.
• The result came in just above the Banco Central de la República Argentina market survey estimate of 2.2%.
• Twelve‑month inflation eased to 31.3% from 31.8% in September, marking the lowest rate since July 2018.
• Transport showed the largest annual increase at 3.5%, followed by housing, water, electricity, gas and other fuels at 2.8%, while household equipment and maintenance and recreation and culture rose 1.6% each.
• The release is the first inflation print since Javier Milei's party won a legislative victory that could yield up to 93 lower‑house seats, with voter participation at 67.5%, the weakest since the 1983 return to democracy.