Inflation in Argentina accelerates and reaches 32.4% in 12 months, says Indec

Inflation in Argentina accelerated in January, registering an increase of 2.9% in relation to December and raising the accumulated figure over the last 12 months to 32.4%, according to official data released this Tuesday by the National Institute of Statistics and Census (Indec).

Last month’s consumer price index (CPI) shows an acceleration compared to the end of 2025, when the annual variation was 31.5%. Among the sectors that put the most pressure on prices were food and non-alcoholic drinks, with an increase of 4.7%, and restaurants and hotels, which increased by 4.1% in the month.

The result occurs in a context of debate over the way inflation is measured in the country. The Argentine government, led by President Javier Milei, decided to postpone the implementation of a new methodology for calculating the price index, originally scheduled to debut in February, claiming that the change should only occur “until disinflation is consolidated”. This decision generated internal controversy and culminated in the resignation of the then president of Indec, Marco Lavagna, amid disagreements over the schedule and need for the update.

Experts point out that the postponement of the methodological review reignites concerns about the accuracy of the data, especially because the current methodology is based on an outdated consumption basket, which includes items that are less representative of recent consumption patterns. Despite this, economists consulted state that the release of data, even with the current methodology, helps to reinforce statistical transparency at a time when the country is trying to consolidate more stable economic expectations.

Argentine inflation has reduced significantly compared to 2023, when it exceeded 200% per year, but the resumption of pace in 2026 highlights the challenges still faced by the government in controlling the rise in prices in a scenario of fiscal adjustment, withdrawal of subsidies and changes in the prices of public services that affect families’ cost of living.

Economists also note that rising prices for essential items, such as food, reflect persistent pressures in the economy, influenced by factors such as exchange rate variations, production costs and imported inflation. The inflationary acceleration recorded in January intensifies the debate about the effectiveness of current economic policies and the government’s strategies to achieve a more stable price trajectory.