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Argentina Inflation October 2023

Argentina: Inflation comes in at highest level since our records began

Inflation came in at 142.7% in October, up from September’s 138.3%. October’s figure was the highest inflation rate since our current records began.

The trend pointed up, with annual average inflation coming in at 115.5% in October (September: 110.5%).

Lastly, consumer prices increased 8.30% over the previous month in October, below September’s 12.75% rise. October’s result marked the weakest reading since July.

Commenting on the release, Andres Perez and Diego Ciongo, analysts at Itaú, stated:

“We maintain our inflation forecast at 200% by year-end. In our view, the deceleration of month-over-month inflation is transitory, as we still expect an adjustment of the exchange rate this year, leading to higher inflation ahead. We also still foresee the monetary policy rate at 145% for year-end, but we don’t expect changes this week, given the deceleration of inflation and the coming runoff election.”

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