Argentina is set to hold its first tender of the year after paying off the first maturities of 2026. According to information from the Argentine News Agency (NA), the National Institute of Statistics and Censuses (INDEC) will release the last inflation data of 2025: the Consumer Price Index (CPI) for December. The latest Market Expectations Survey (REM), prepared by the Central Bank (BCRA), showed a slight decrease in December inflation, placing it around 2.3%. This figure represented an increase of 0.2 percentage points compared to the previous survey. The Top 10 estimated a core inflation of 2.3% for December as well (+0.1 points from the previous REM). This percentage was compiled between December 23 and 30, 2025, and includes 44 participants, including 32 local and international consulting firms and research centers, and 12 Argentine financial entities. According to the calendar released by the Ministry of Finance, and to which this agency had access, the call for tenders will be made on January 12, while the results will be announced two days later (Wednesday, January 14). This tender is framed after having paid part of the total 2026 debt of US$4.2 billion to private bondholders. Until now, the 2004/2005 methodology was used. First tender of 2026 In order to renew peso maturities, the Government will launch the first tender of the year. This is why data from different private consulting firms seem to diverge, confirming that disinflation for December stalled. The latest indicators place December's inflation very close to 2.5%, reversing the trend observed until mid-year: September (2.1%), October (1.4%), and November (2.5%). If private forecasts are confirmed, December would be an upward step, undermining the Government's main asset. Analytica: 2.6%. C&T: 2.6%. Libertad y Progreso: 2.5%. EcoGo: 2.5%. However, the official data from the agency headed by Marco Lavagna is still pending. Those who best projected this variable in the past (Top 10) also reported a monthly inflation of 2.4% for December (+0.1 pp. relative to the previous REM). Inflation is expected to be similar to November's 2.5%. The December inflation data will be released, which will set the floor for the new floating exchange rate scheme for the dollar. Buenos Aires, Jan 11 (NA) -- The second week of 2026 begins with key data to continue the Government's economic program. Regarding Core CPI, the group of REM participants placed their estimates for December at 2.3% (+0.3 pp. relative to the previous REM). The official data will be shared next Tuesday, January 13, at 4:00 PM. At the same time, the old INDEC methodology is being terminated and a new one is being used: the 2017/2018 Household Income and Expenditure Survey will be taken into account. The Executive branch used its own dollars, a REPO with six international banks, and funds from the privatization of the Comahue dams. The BCRA bought more than US$200 million In the first week with the debut of the new monetary program, the entity led by Santiago Bausi made purchases in the foreign exchange market for US$218 million: Monday (US$21 million), Tuesday (US$83 million), Wednesday (US$9 million), Thursday (US$62 million), and Friday (US$43 million). With the entry of 'Phase 4', the BCRA is allowed to buy up to 5% of the total daily volume traded in the market. 'As of January 1, 2026, the Central Bank will initiate a program for the accumulation of international reserves consistent with the evolution of money demand and the liquidity of the foreign exchange market,' was informed during the presentation. How the dollar traded Blue dollar: closed at $1,485 for purchase and $1,505 for sale. Official dollar: closed at $1,440 for purchase and $1,490 for sale. Wholesale dollar: closed at $1,465 and remained at 4.9% of the ceiling of the exchange rate band. Counted with Liquidation (CCL) dollar: closed at $1,525.5 for purchase and $1,526.6 for sale. MEP dollar: closed at $1,488 for purchase and $1,493.5 for sale. Card dollar: closed at $1,937.
