Argentinas October inflation ticks up to 2.3%

Argentina’s prices went up by 2.3% in October, a slight increase from the previous month’s 2.1% inflation rate, figures released by the INDEC statistics bureau showed on Wednesday afternoon. It is the third month in a row that inflation has risen and the fifth month it has not fallen. Prices rose by 31.3% in the past 12 months and by 24.8% in the first ten months of the year. The highest increase came in the transportation sector, with a 3.5% jump, followed by household (rent and expenses) and fuels, which increased by 2.8%.  Last month, the INDEC also announced it would change the way it measures inflation from January 2026 onwards. The institute is set to replace the current goods basket, which dates back to 2004, with a more recent selection from 2017-2018. The economy ministry celebrated the figure in a communiqué posted on social media, saying the year-on-year variation was the lowest since July 2018 and that it marked “eighteen consecutive months of deceleration compared to the same month of the previous year.” The ministry added that the disinflation process continued “despite the fall in money demand generated by electoral uncertainty and the opposition’s attempts to break the fiscal anchor in recent months.”  “This reflects the strength of the economic program and the success of fiscal and monetary policy in reducing the impact of financial volatility on Argentines’ purchasing power,” the statement said.