Argentina: The inflation rate for February is estimated to be close to 15%.

Finance Minister Luis Caputo forecasted that "this month inflation will be closer to 10 percent than 20 percent".

Gabriel Micillo•Monday, March 11, 2024•1 min read

Inflationary pressure on prices continues its march, although according to the government and consulting firms, there was a slower pace of increases last month.

There seems to be a slowdown compared to the sharp increase in the Consumer Price Index (CPI) in January.

The National Institute of Statistics and Censuses (INDEC) will release the Consumer Price Index (CPI) for February on Tuesday, which, according to private estimates, would be below January’s 20.6 percent but above 15 percent, the maximum number expected by the Government, based on the expectation that it is “closer to 10% than 20%”.

Inflationary pressure on prices continues its march, although according to the government and consulting firms, there was a slower pace of increases last month, which reflects a slowdown compared to the sharp increase in the CPI in January.

With an apparent consensus for a slower pace in price increases, but with differences in the degree of that decrease, expectations grow for the official measurement of the CPI for February, which INDEC will release this Tuesday, March 12th.

Finance Minister Luis Caputo forecasted that “this month inflation will be closer to 10 percent than 20 percent,” ensuring that there will be “a substantial decrease that is the result of the fiscal and monetary control being carried out.”

At the end of last week, the official inflation indicator in the City of Buenos Aires was published, which serves as a preview of the national data, showing a price increase of 14.1 percent during February and an accumulated increase of 264.5 percent in the last 12 months.

This monthly variation is indicative of what the National Government expects.

Thus, the Buenos Aires CPI reflected a decrease of more than seven percentage points from the January record (which had reached 21.7 percent).

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ABOUT THE AUTHOR See More

Gabriel Micillo

Gabriel is a certified public accountant graduated from UNNE (National University of the Northeast, Argentina) and a software developer, currently pursuing a Master's degree in Finance and Economics. With nearly 8 years of experience working for accounting firms and brokerage firms. Concurrently, he has produced economic and financial reports on the current state of regional economies for the clients of the establishments where he has worked. Additionally, he assisted colleagues like Ignacio Teson in the drafting and editing of articles on similar topics in English language.