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Consumer prices in Argentina rose 2.6% in April compared to March, marking the first slowdown in inflation in 11 months,
according to data released Thursday by statistics agency Indec.
The figure was slightly higher than the median estimate of 2.5% among economists surveyed by Bloomberg. Annual inflation fell slightly to 32.4% from 32.6% in March.
The largest price increase was recorded in the transportation sector – 4.4% – due to higher fuel prices; education came in second.
President Javier Miley succeeded in slowing inflation after prices rose sharply in March amid the oil shock associated with the war involving Iran. Inflation reached 3.4% in March, driven by this shock and seasonal price increases at the start of the school year.
Economy Minister Luis Caputo said in an interview before the data was released that the figures would show a slowdown compared to March. He predicted that the economy's best months would begin in June, following last year's midterm elections, which curbed economic growth.
Prices have only risen or remained flat since hitting a seven-year low of 1.5% in May 2025.
Miley's approval ratings have recently fallen to their lowest since taking office amid corruption scandals and an uneven economic recovery. Lower inflation could improve his standing.v