PrintBBVA Research Lifts Its 2026 Inflation Forecasts For Argentina To 22% As CPI Higher Than Expected In January
BY MT Newswires | ECONOMIC | 02/11/26 08:20 AM EST08:20 AM EST, 02/11/2026 (MT Newswires) -- Argentina's January consumer price index printed at 2.9% month over month, or 32.4% year over year, which is above the market consensus of 2.4%, while marking the highest
monthly reading since last April, said BBVA Research.
Food prices surged 4.7% month over month, or 36% year over year, which represents a 10-month high and accounts for the bulk of the headline upside surprise, noted BBVA Research.
On a positive note, core inflation decelerated slightly from 3.0% year over year to 2.6%. However, this improvement was more than offset by seasonal price dynamics, it pointed out.
BBVA raised its 2026 inflation forecast from 20% to 22%, noting an upside bias from potential factors such as drought, external shocks, and persistent stickiness in price and contract indexation.
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