Inflation in the City of Buenos Aires reached 2.1% in February, despite the seasonal decrease in tourism services typical of this month. This translates into a 5.3% increase in the first two months of the year and a year-on-year inflation rate of 79.4%, reported the Buenos Aires Statistics and Censuses Institute. In January, inflation in the capital was 3.1%.
The Libertad y Progreso Foundation estimated that inflation was at 2.3%, slightly above the official figure for January, with an estimated year-on-year variation of 67%. EcoGo Consultores predicted that February inflation would reach 2.7%, with an average increase of 3.8% in food and beverages, highlighting that meat prices were the main contributors to this acceleration in prices.
According to analysts, for the first time under this Government, the average Consumer Price Index in the City started at 2%. Although January recorded the lowest level in nearly five years, with a year-on-year increase of 2.2%, and the deceleration resumed after the rise in December, inflation in February is expected to exceed that of the previous month.
The Central Bank's Market Expectations Survey estimated that February inflation would be around 2.1%, accumulating 4.6% in the first two months of 2025, significantly lower than the 36.6% of the same period in 2024. As for the year-on-year variation, it marked 66.7%, indicating a gradual deceleration and the second time below 100% after surpassing that threshold in January.
In relation to national inflation, the city's inflation is a relevant initial indicator. Although a slight decrease had been anticipated, a definitive figure is expected after the end of February. Equilibra's report estimates a monthly increase of 2.5%, with significant increases in housing, water, electricity, restaurants, hotels, alcoholic beverages, and tobacco.
The National Institute of Statistics and Censuses (INDEC) will publish the Consumer Price Index for February this Friday, March 14, projecting inflation above 2%, primarily driven by rising food prices, especially meat, which increased by 7.8% in its measurement.
