Wholesale Inflation Was 1.5% in January According to Indec.

The National Institute of Statistics and Censuses (INDEC) published the report of the Wholesale Price Index System (SIPM) corresponding to January 2025.

The data reveal a moderate rise in wholesale prices of 1.5%, with increases lower than in previous months and signs of stability in domestic products.

Main data of January's wholesale inflation

• The Internal Wholesale Price Index (IPIM) increased by just 1.5% compared to the previous month, marking a slowdown in wholesale inflation.
• The Basic Internal Wholesale Price Index (IPIB) rose 1.6%, reflecting less pressure on internal prices without taxes.

• The Producer Price Index (IPP) recorded a rise of 1.8%, with stable behavior in key productive sectors.
• Domestic products showed controlled growth of 1.6%, while imported products only increased by 0.5%, reflecting less external impact on the local economy.

Stability in strategic sectors

The moderation of increases is also reflected in the sectors with the greatest impact on the IPIM:

• Crude oil and gas: increase of 0.35%, a contained variation that reduces pressure on energy costs.
• Chemical substances and products: rise of 0.29%, a positive indicator for the manufacturing industry.
• Food and beverages: increase of 0.16%, showing signs of stabilization in a key sector for consumption.
• Refined petroleum products: growth of 0.15%, without significant impacts on fuel costs.
• Agricultural products: slight rise of 0.11%, favoring the supply of raw materials without major variations.

The impact on the economy and expectations

These data reflect a trend toward inflationary deceleration in the wholesale segment, which could positively impact the stability of retail prices in the coming months. The lower rise in domestic products and the reduction of the impact of imported goods suggest that the economy could be entering a phase of greater predictability.

With these indicators, the government reinforces its strategy of controlling wholesale inflation and stabilizing the internal market, a key factor for improving the economic expectations of consumers and businesses.