The inflation continues to rise and February was 2.9%as reported this Thursday by the National Institute of Statistics and Censuses (INDEC). It was thus above the market expectations revealed by the Central Bank (REM) of 2.7% and also above CABA inflation (2.6%).
For its part, the interannual variation accelerated from 32.4% to 33.1%while the accumulated figure for the first two months of the year was 5.9%.
Among the items that rose the most, it stood out Housing, electricity, gas and other fuels (+6.8%)as a result of the increase in gas, water and electricity rates in most provinces, as well as the implementation of the new subsidy scheme. The greater increase in services (more than double the average) would have had a stronger impact on the index with the new methodology that Caputo decided to stop.
Likewise, the acceleration of inflation called “Core” (not regulated or seasonal), which accelerated from 2.6% to 3,1%driven especially by the jump in the prices of carne.
#DatoINDEC#IPC: The division with the highest monthly increase in February 2026 was Housing, water, electricity, gas and other fuels (6.8%), followed by Food and non-alcoholic beverages and Miscellaneous goods and services (both 3.3%) https://t.co/bFx8TZTULF pic.twitter.com/iFF8EZifnO
— INDEC Argentina (@INDECArgentina) March 12, 2026
The second highest item was precisely the increase in Food and non-alcoholic beverages (+3.3%)driven by the increase in meat and derivatives. This area was the one with the highest incidence at the national level, with the exception of Patagonia. On the contrary, there was a slight decrease in fruits and vegetables due to seasonal factors.
Since May 2025, inflation has not slowed down. Even taking into account the government’s intervention in technical aspects of methodological updating and despite the fact that February is a month with fewer days (so the price increase is usually lower).
An even hotter March is expected. The so-called “War in the Middle East”, unleashed by the United States and Israel against Iran, skyrocketed the price of oil and brought it close to US$100 per barrel. The impact on internal prices has already begun, mainly in fuels, suppliers and thus the entire transportation and input chain.
Milei promised to “lower inflation to 0% in July or August”, another lie. While workers and retirees continue to bear the burden of the adjustment, incomes that are not enough to live on and an unsustainable wage liquefaction. It is necessary to fight for an emergency increase in salaries and pensions and impose on the union centers a plan to fight for salaries, employment and even overthrow the adjustment plan of Milei and the IMF.
Source: www.laizquierdadiario.com
