BUENOS AIRES (Reuters) -Argentina’s consumer prices likely rose at a roughly steady pace in October compared to the previous month, with the annual average rate remaining on track to mark a 6-year low, a Reuters poll of economists showed.
Concerns about a possible inflationary spike around a key legislative vote on October 26 were dispelled thanks to disbursements of U.S. funds to calm the Latin American country’s currency market.
President Javier Milei’s party won the mid-term election last month in which most Argentines voted in favor of his economic stabilization program despite strong discontent over government austerity measures.
Monthly inflation probably accelerated marginally to 2.2% in October from 2.1% in September, according to the median estimate of 25 analysts polled on November 5-10.
Annual inflation was forecast to fall to 31.3% from 31.8%, which would be the lowest rate since July 2018 and keep the trajectory on track for average inflation to be the lowest since full calendar-year 2018.
Official data are due on Wednesday.
“Uncertainty had little impact on prices, with a relatively moderate pass-through (of foreign exchange volatility) and inflation similar to that of September,” Eco Go analysts wrote in a report.
Prices of fruits and vegetables likely rose the most in October after having stayed unchanged for much of 2025 in the face of weaker household spending.
Holiday season expenditure is forecast to be the next main driver for inflation. But consumers are expected to keep a lid on shopping activity given their increasing money struggles.
Annual inflation is set to end this year at 41.7% on average, a fraction of the 220% rate in 2024, a separate Reuters poll showed last month.
After that, analysts saw further reduction to 23.7% in 2026 combined with rising unemployment in anticipation of more government reforms to liberalize the economy.
Average inflation of 41.7% this year would be the lowest annual reading since 34.3% in 2018.
(Reporting and polling by Hernan Nessi and Gabriel BurinEditing by Frances Kerry)
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