Consumer prices rose 2.2% in October in Argentina compared with September, the biggest monthly increase since April, according to the INDEC, October 2026 CPI technical report, released on Thursday, November 12. Year-on-year inflation stood at 33.1% and cumulative inflation from January to October at 26.3%. The figure beat September's 1.9% and the 1.8% expected by analysts in the Central Bank's Market Expectations Survey (REM), according to Rankia.
The main push came from gas rates, which drove the housing, water, electricity and gas category up 4.2%. Core inflation, which excludes seasonal and regulated prices, was 1.5%. These are the figures for Argentina's October inflation, by category, by region and month by month.
View the data as a table
| Monthly | 2.2% |
| Year on year | 33.1% |
| Year to date | 26.3% |
| Core | 1.5% |
What rose most in Argentina's October inflation
According to INDEC, the category with the biggest increase was housing, water, electricity, gas and other fuels (4.2%), "as a result of the increase in Gas," followed by recreation and culture (3.3%). The smallest increases were in alcoholic beverages and tobacco (0.8%) and education (1.3%). Food and non-alcoholic beverages rose 2.0%, driven by vegetables, tubers and legumes and by bread and cereals, and had the largest impact in five of the six regions.
| Category | October | Year to date 2026 |
|---|---|---|
| All items | 2.2% | 26.3% |
| Housing, water, electricity and gas | 4.2% | 41.3% |
| Recreation and culture | 3.3% | 27.9% |
| Miscellaneous goods and services | 2.3% | 25.7% |
| Clothing and footwear | 2.2% | 8.3% |
| Transportation | 2.1% | 25.4% |
| Food and non-alcoholic beverages | 2.0% | 27.0% |
| Communication | 2.0% | 29.1% |
| Health | 1.7% | 27.3% |
| Restaurants and hotels | 1.5% | 26.4% |
| Household equipment and maintenance | 1.4% | 19.7% |
| Education | 1.3% | 35.8% |
| Alcoholic beverages and tobacco | 0.8% | 15.9% |
Source: INDEC, October 2026 CPI technical report, tables 1 and 2. So far this year, housing and utilities are up 41.3% and education 35.8%, well above average, while clothing is up only 8.3%. By category, seasonal prices rose 5.5%, regulated prices 2.9% and core 1.5%; services (2.7%) rose more than goods (1.9%).
Why gas prices rose in October
INDEC explained in a note to the report that the gas increase reflects three effects: new rate schedules in force since October 1 and 13 for the country's distributors; changes to the subsidized cubic-meter block under the Targeted Energy Subsidies scheme (Decree 943/2025); and changes to the cold-zone rules, in force since October 13. Those changes explain why in Patagonia, where gas weighs more in household spending, housing was the main driver.
October inflation in Argentina by region
The Pampas region had the highest inflation of the month (2.6%), followed by Patagonia (2.5%) and Cuyo (2.3%), all above the national average. Greater Buenos Aires (2.0%), the Northwest (1.7%) and the Northeast (1.5%) were below. In the City of Buenos Aires, the city's own index had shown 1.9%, according to La Nación.
Argentina's inflation month by month
Monthly inflation fell from 3.4% in March to 1.7% in August and has risen again since then. Year-on-year inflation has stayed between 31% and 34% for a year: it peaked at 33.8% in July and eased to 33.1% in October. For the long series, see Argentina's inflation year by year since 1998.
View the data as a table
| Monthly change | |
|---|---|
| Nov 25 | 2.5% |
| Dec 25 | 2.8% |
| Jan 26 | 2.9% |
| Feb 26 | 2.9% |
| Mar 26 | 3.4% |
| Apr 26 | 2.6% |
| May 26 | 2.1% |
| Jun 26 | 1.9% |
| Jul 26 | 2.1% |
| Aug 26 | 1.7% |
| Sep 26 | 1.9% |
| Oct 26 | 2.2% |
| Month | Monthly | Year on year |
|---|---|---|
| Nov 25 | 2.5% | 31.4% |
| Dec 25 | 2.8% | 31.5% |
| Jan 26 | 2.9% | 32.4% |
| Feb 26 | 2.9% | 33.1% |
| Mar 26 | 3.4% | 32.6% |
| Apr 26 | 2.6% | 32.4% |
| May 26 | 2.1% | 33.2% |
| Jun 26 | 1.9% | 33.5% |
| Jul 26 | 2.1% | 33.8% |
| Aug 26 | 1.7% | 33.5% |
| Sep 26 | 1.9% | 33.4% |
| Oct 26 | 2.2% | 33.1% |
Source: INDEC, October 2026 CPI technical report. October inflation is used to adjust pensions, rents and other contracts; it also affects the December bonus (aguinaldo) and the debate on the minimum wage. To compare with neighbors, see the ranking of inflation in Latin America. INDEC will publish the November figure in mid-December.
Frequently asked questions
What was Argentina's inflation in October 2026?
2.2% monthly, 33.1% year on year and 26.3% year to date, according to INDEC.
Which category rose most in October?
Housing, water, electricity, gas and other fuels, at 4.2%, due to higher gas prices.
What was core inflation?
1.5% in October, according to INDEC.
When is November inflation published?
In mid-December 2026, according to INDEC's calendar.
