Apart from slight increases in June and August, inflation has fallen significantly over the past year, leaving behind the double-digit percentages recorded at the beginning of 2024.

Argentina's Consumer Price Index (CPI) fell eight-tenths of a percentage point in October compared to the previous month, to stand at 2.7% monthly, according to a report released on Tuesday by the National Institute of Statistics and Census (Indec).

This is the lowest monthly figure since Javier Milei assumed the presidency of the country. Except for slight increases in June and August, inflation has fallen very significantly in the last year, leaving behind the double-digit percentages recorded at the beginning of 2024.

Furthermore, this is the lowest monthly figure since November 2021, when it stood at 2.5% per month. Milei's government expected this good figure in October, as it means breaking the 3% barrier.

The division with the highest monthly increase in October was housing, water, electricity, gas and other fuels (5.4%), followed by clothing and footwear (4.4%); and the lowest, food and non-alcoholic beverages and transport (both 1.2%).

Meanwhile, year-on-year inflation fell to 193% in October from 209% in September. Inflation has now reached 107% for the year to date.

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