The disinflation process, the main argument for deepening fiscal adjustment, slowed in the final stretch of 2025. In recent hours, more private data has emerged placing December's inflation very close to 2.5%, according to the Argentine News Agency (NA). Thus, the trend observed until mid-year was reversed: September 2.1%, October 1.4%, and November 2.5%. If the private forecasts are confirmed, December would be an upward step, undermining the government's main asset. "During the fifth week of December, we registered a weekly variation of 0.6% in the prices of food and beverages in Greater Buenos Aires. In this way, the four-week average is 3.3%," stated the latest report from the consulting firm Analytica. Consequently, in this firm's assessment, the general price level will have an increase of 2.6% in December. Reports from C&T (2.6%), Libertad y Progreso (2.5%), and Eco Go (2.5%) were in the same line. Although December is usually a month of strong seasonality due to the holidays, in 2025 it was intensified by the rise in meat prices. President Javier Milei and his economic team promise that by mid-year, the inflation index will start with "zero". This promise is the backbone of the libertarian program, which defends fiscal adjustment as the main tool to lower inflation. Among the detractors are those who argue that alongside fiscal adjustment, a recession occurs that impacts production and employment levels.
