According to the Government, inflation in October recorded a significant decrease of 2.7%, reaching the lowest level since Javier Milei took office. Throughout the year, it has accumulated an increase of 107% and in year-on-year comparison reached 193%. In October, the category that increased the most was Housing, water, electricity, gas and other fuels (5.4%), followed by Clothing and footwear (4.4%).
It was highlighted that Restaurants and hotels showed the largest increase in the GBA and Northwest regions, while in Northeast, Cuyo, and Patagonia, Housing, water, electricity, gas and other fuels had the highest incidence. In contrast, Food and non-alcoholic beverages had the highest incidence in the Pampeana region, with an increase of 1.2%.
The divisions that varied the least were Transport and Food and non-alcoholic beverages, both with an increase of 1.2%. At the category level, core CPI led the increase with 2.9%, followed by Regulated (2.7%) and Seasonal with 1.4%.
The National CPI recorded an increase of 2.7% in October, while core inflation, which excludes regulated and seasonal components, was 2.9%. The Ministry of Economy emphasized that core inflation reached its lowest level since September 2020, and the general inflation was the lowest since November 2021. The year-on-year variation of the National CPI was 193%, showing the sixth consecutive month of deceleration compared to the same month of the previous year.
The Economy department underscored that to analyze the dynamics of the disinflation process and extract trends beyond short-term volatility, it is useful to examine the behavior of moving averages of CPI variations. The 3-month moving average in October was 3.4% monthly, the lowest record since January 2022, and the 6-month moving average was 3.9%, the slowest pace since February of the same year. The disinflation process continued its course, showing a marked downward trend.
