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3h ago

Argentina’s Wholesale Inflation Slows to 1.1% in October

Falling import prices offset domestic increases, signaling a softer wholesale pace despite election-period currency volatility.

Subió la inflación mayorista en octubre.
El precio mayorista del petróleo cayó en octubre.
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El IPIM subió solo 1,1% en octubre y quedó por debajo del IPC, pero economistas advierten que la presión cambiaria podría recalentarse en noviembre.

Overview

  • INDEC reported a 1.1% monthly rise in the IPIM, bringing the year-to-date increase to 21.3% and the annual gain to 24.1%.
  • Domestic goods rose 1.3% while imported goods fell 1.4%, with the largest positive contributions from agricultural products, food and beverages, refined petroleum, and tobacco, and a negative pull from crude oil and gas.
  • The IPIB increased 1.3% and the IPP advanced 1.7%, driven by a 3.2% rise in primary products and a 1.1% increase in manufactured goods and electricity.
  • The Construction Cost Index for Greater Buenos Aires climbed 1.6% in October, with materials up 2.1%, labor up 1.3% under a UOCRA agreement, and general expenses up 1.6% reflecting recent utility tariff updates.
  • Analysts cite exchange-rate swings around the election and early-November food price gains in private surveys, with some warning November consumer inflation could top October’s 2.3%.