Argentina: Inflation recedes but remains elevated in October
Consumer prices rose 3.3% over the previous month in October, coming in well below September’s 5.9% surge, which had marked the second consecutive month of spiking price pressures, according to the National Statistical Institute (INDEC).
October’s deceleration came on the back of a broad-based easing among sub-components of the index. The categories of food and non-alcoholic beverages, clothing and footwear, communication and recreation and culture recorded especially marked decelerations in price increases.
Moreover, inflation declined, coming in at 50.5% in October (September: 53.5%). Meanwhile, annual average inflation edged up to 52.8% from 52.4% in September.