Argentina's inflation hits 143% in October

MG News | November 14, 2023 at 09:48 AM GMT+05:00

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November 14, 2023 (MLN): Argentina's Consumer Price Index (CPI) registered an increase of 142.7% YoY and 8.3% MoM in October 2023, the latest data issued by the National Institute of Statistics and Censuses of the Argentine Republic (INDEC) showed yesterday.

To note, the inflation rate in the previous month was recorded at 138.3% YoY and 12.7% MoM.

During the month of October, the division with the greatest increase in the month was Communication (12.6%), as a result of the increases in telephone services and Internet.

They were followed by Clothing and Footwear (11.0%) due to the change of season, and Equipment & home maintenance (10.7%).

The division with the highest incidence in all regions was Food and non-alcoholic beverages (7.7%).

Within this division, the increase was particularly notable in Meat and derivatives, Bread and cereals, and Milk, dairy products, and eggs.

The Core CPI (8.8%) led the increase followed by Seasonal (7.6%), while Regulated registered an increase of 6.6%.

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