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Food Prices Reaccelerate in Argentina, Pushing Up October Inflation Estimates

Fresh weekly surveys show concentrated increases in key staples despite recent currency stability.

Overview

  • LCG measured a 1.4% weekly rise in food and beverages in the second week of October, with 80% of items unchanged and larger jumps focused on fewer products.
  • Vegetables led the LCG increases at 3.8%, followed by beverages and infusions at 2.7%, oils at 2.0%, fruits at 1.8%, dairy and eggs at 1.6%, and meats at 1.3%, while ready-to-eat meals fell 0.3%.
  • Eco Go reported a 0.9% increase in the first week of October and revised its monthly inflation estimate to roughly 2.6%.
  • Analytica highlighted regional spikes, with sunflower oil up 4%–9% in Buenos Aires province and sugar rising 1%–3% with peaks of 8.6% in Misiones and 4.6% in La Pampa.
  • The government is seeking to keep the IPC below 2% as UMET/CCD’s workers’ inflation hit 2.2% in September, the highest since April, with a 31% annual rate and 20.8% year-to-date; official September CPI is due October 14.