Overview
- INDEC said wholesale prices rose 2.4% in December after 1.6% in November, leaving 2025 at 26.2%, the lowest since 2017 and far below 2024’s 67.1%.
- The wholesale index finished the year under consumer inflation at 31.5%, with December’s 2.4% IPIM below the IPC’s 2.8%.
- December’s move reflected a 2.4% rise in national goods and 1.7% in imported goods, led by refined petroleum (0.70 pp), food and beverages (0.38), crude oil and gas (0.24), vehicles (0.23) and agricultural products (0.21).
- INDEC’s related gauges showed IPIB up 2.2% monthly and 26.6% year over year, while the IPP rose 2.4% on the month and 28% on the year.
- Private economists flagged a second straight monthly acceleration concentrated in a few high-incidence goods, while the Economy Ministry credited disinflation to fiscal restraint, tight money, BCRA recapitalization and trade deregulation.