Overview

• Official Indec data show monthly inflation accelerated from 1.9% in August to 2.1% in September, with the 12‑month rate at 31.8%.
• Housing, utilities and education recorded the largest monthly increases at 3.1%, followed by transport at 3.0%, health at 2.3% and household equipment and maintenance at 2.2%.
• Following a provincial election setback, the peso fell to a record 1,423 per dollar and is down more than 27% in 2025, prompting renewed central bank and Treasury support in FX markets.
• Authorities moved to attract dollars through flexible use of pesos and dollars in public debt, a planned US$2 billion issuance and direct Treasury currency operations outlined by Finance Secretary Pablo Quirno.
• IMF support underpinned a shift to a floating exchange regime, as Milei met President Donald Trump at the White House and a leaked audio alleging corruption involving Karina Milei and Eduardo ‘Lule’ Menem entered judicial review.