The general level of the consumer price index registered a monthly increase of 3.7% in March 2025, and accumulated in the year a variation of 8.6%. In the interannual comparison, the increase was 55.9%.
Well above the level projected by the consultants, March inflation climbed up to 3.7% in March. Thus, not only advanced for the second consecutive month, but also exceeded the 3% barrier. This increase was driven by Education and foodwhich jumped 21.6% and almost 6%, respectively, as reported by the Institute of Statistics and Census (INDEC). Indeed, the consumer price index (CPI) accumulated In the year a variation of 8.6%while in the interannual comparison, The increase was 55.9%.
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Reuters
March It is a month characterized by the beginning of the school year that, in this case, fired up to 21.6% the segment Education. But without a doubt the rise of 5.9% in Food marked the strong acceleration of IPC since it is the most incidence in all regions. This important rise was due to strong increases in vegetables, tubers and legumes and meats and derivatives.
With this data, the IPC Not only did not resume the process of disinflationwhich had already been cut in February when it rose to 2.4% from the previous 2.2%, but it is The highest level since August 2024 when the index was 4.2%. In fact this fact too is well above the expected given that Private consultants calculated between 2.8% or 2.9% and REM of the BCRA, 2.6%.
For the economist Gabriel Caamaño, “The non -linearity of the process was expressed with all the fury in a March loaded by doubts about the continuity of the exchange anchor”and mentioned, as relevant about this measurement that “Many assets, meats and the rest of food accelerated”and when seasonal priceshe said that “they stopped playing in favor.”
In this regard it is important to mention that Seasonal prices jumped 8.4%followed by regulated ones, with 3.2%, while the CPI, rose to 3.2%.
While the data was very bad, from the Ministry of Economy, which directs Luis Caputothey spoke about it: “In March 2025, the variation of the consumer price index (CPI) was 3.7%, A substantial fall compared to the same month last year, which was 11%. Likewise, the interannual variation was 55.9%, marking a strong disinflation trend in the last year. “
Upcate the IPC before the new exchange scheme is known
For Claudio Capraulodirector of ANALYTICSthis inflation fact represents “a bad percentage, especially because It was achieved before the expected modifications in the exchange scheme. Unlike what had been happening so far He played very against seasonal prices, particularly vegetables and education, the latter was expected “.
In turn, he stressed that he continued Very high inflation in meat. For this expert, this is a “bad news in a context of very strong changes at the international level and the doors of the consequences of a new agreement with the IMF. The government’s response has to be clear and consistent to work on expectations“He explained.
Also consulted by this means, the economist Juan Manuel Telechea warned: “The inflation data was considerably worse than expected: the market anticipated an increase close to 3%, but the final number exceeded it widely. This result also leaves a strong drag for April and occurs in a context of high uncertainty and volatility, marked by both the measures announced by Trump and by the structural weakness of the local economy.
“In parallel, the Central Bank sold almost US $ 400 million on the same day, which aggravates the panorama: inflation on the rise and shortage of dollars. Now, all eyes point to the government and the ads you can make to calm expectations “hill.
Source: Ambito
