October inflation was 8.3%

The consumer price index for October showed an increase of 8.3%, accumulating 120% so far this year and 142.7% in the last twelve months

The National Institute of Statistics and Censuses (INDEC) released the data of inflation October 2023.

As recently detailed by the statistical organization, in the new publication, the Consumer’s price index (IPC) reached 8.3%and marked a slowdown compared to the 12.7% that September had had. In the first ten months of the year it added 120%and in this way, the variation of the last 12 months registers 142.7%.

We remember that the consumer price index measures the variation in prices of goods and services representative of household consumption expenditure in comparison with the prices in force in the base year.

The price survey, as announced by INDEC, is distributed in 39 urban agglomerations in all the provinces of the country, the City of Buenos Aires and the 24 districts of Greater Buenos Aires.

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What were the items that rose the most?

The division with the greatest increase in the month was Communication (12.6%), as a result of increases in telephone and internet services. They followed Clothing and footwear (11.0%) –due to the change of season–, and Home equipment and maintenance (10.7%).

CPI October 2023

Source: INDEC, National Directorate of Price Statistics. Consumer Price Indices Directorate

The division with the highest incidence in all regions was Food and non-alcoholic beverages (7.7%). Within the division, the increase in Meat and derivatives, Bread and cereals and Milk, dairy products and eggs had an impact.

The two divisions that recorded the smallest variations in October were Health (5.1%) y Education (6.6%).

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