Due to the impact of oil and seasonal factors, inflation in March was 3.4%

Inflation in March stood at 3.4%, as reported by the National Institute of Statistics and Censuses (Indec), representing an increase of 0.5 percentage points compared to 2.9% recorded in February, in a context marked by the international impact of the increase in oil and seasonal factors.

The official figure also showed a year-on-year variation of 32.6% and a cumulative variation of 9.4% so far this year, in line with forecasts managed by both the Government of Javier Milei and private analysts.

According to the report, the increase was mainly driven by the increase in fuel prices, in the context of the conflict in the Middle East, and by pressures typical of the period, such as the return to school.

Despite the monthly acceleration, the Government projected that starting in April a process of inflationary slowdown will begin accompanied by growth in economic activity.

Along these lines, the Minister of Economy, Luis “Toto” Caputo, had already anticipated the behavior of the index

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March inflation

“Surely it will be above 3% because there was a shock with oil,” the official explained during a presentation at the Rosario Stock Exchange. In this context, he added: “Starting in April, a process of disinflation and growth is coming, the best months are coming.”

After the release of the data, Caputo expanded the analysis through his social networks and detailed the composition of the index: “The National CPI registered a monthly variation of 3.4% in March, with an increase of 3.2%, 5.1% and 1.0% in the core, regulated and seasonal categories, respectively.”