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Argentina inflation hits 2.7% in October, annual rate at 193%

BY Reuters | ECONOMIC | 11/12/24 02:04 PM EST

BUENOS AIRES, Nov 12 (Reuters) - Argentina's monthly inflation rate stood at 2.7% in October, landing below a Reuters poll forecast of 3.0% and down from 3.5% in September, data from the INDEC statistics agency showed on Tuesday.

Inflation in the 12 months through September reached 193.0%, among the highest rates in the world, a touch below the poll forecast of 193.9% and slowing from a rate of 209.0% recorded the previous month.

This represents the first time in close to a year that the rate has fallen below the 200% threshold. Monthly inflation, meanwhile, declined to its lowest rate since November 2021 after several months hovering around 4%.

(Reporting by Sarah Morland and Hernan Nessi; Editing by Brendan O'Boyle)

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