The overall level of the Wholesale Price Index of Argentina recorded an 18% increase in January, but decelerated sharply compared to December when it marked an unprecedented 54% monthly rise following the devaluation of the official dollar. It is worth noting that January’s measurement was below the inflation rate, which stood at 20.6% last month.

Breaking it down, the 18% increase in the IPIM was driven by a 19.6% rise in domestic products and a 5.1% increase in imported products. On the other hand, the overall level of the Basic Internal Wholesale Price Index (IPIB) showed a 16.6% rise in the same period (within which there was an 8% increase in domestic products and a 5% increase in imported products).

Within the index, it is worth noting that, amidst a context of greater stability in the official exchange rate, wholesale prices of imported products rose by only 5.1% monthly in January (compared to an 80.6% monthly increase in December), marking the smallest increment since June 2022.