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Food Prices Push Argentina’s January Inflation Toward 2%–2.5%

Analysts expect a slower disinflation path than the government's 10% goal.

Overview

  • Private weekly surveys show vegetables, fruits and meats leading early-January increases, with LCG, Analytica and Eco Go reporting 0.5%–0.8% weekly gains in foods.
  • Those readings point to a January CPI near 2.0%–2.5%, with Eco Go estimating 2.3% and Analytica 2.5%, while Invecq projects roughly 2.6%.
  • Consultancies broadly see 2026 inflation around 20%–25%, indicating a gradual slowdown that falls short of the official target.
  • The government delayed the new segmentation of electricity, gas and bottled-gas subsidies to February, shifting billing effects to March and postponing CPI impact.
  • INDEC will release January inflation on February 10 using a revised methodology that increases the weight of rents and services and reduces food and clothing.