Inflation Argentina 2023
Average inflation: 128.0%
Current Inflation
Inflation is very high at 128.0%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 211.4%. The lowest inflation was in January at 98.8%.
- Highest month
- December: 211.4%
- Lowest month
- January: 98.8%
- Difference
- 112.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Restaurants and hotels with an average of 145.2%. The lowest price increase was in Transport with an average of 111.0%.
- Highest increase
- Restaurants and hotels: 145.2%
- Lowest increase
- Transport: 111.0%
Historical Context
Current inflation is 59.4% higher than the 5-year average of 68.6%. This approaches the highest level since records began (128.0% in 2023).
- 5-year average
- 68.6%
- 10-year average
- 57.4%
- All-time high (2023)
- 128%
- All-time low (2017)
- 24.8%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by +57.3 percentage point.
- Change vs. previous year
- +57.3 percentage points
- Largest monthly swing
- December: +116.6 percentage points
ECB Target
Inflation is 126.0% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €228.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 98.8% | +48.1 |
| February | 102.5% | +50.2 |
| March | 104.3% | +49.2 |
| April | 108.8% | +50.8 |
| May | 114.2% | +53.5 |
| June | 115.6% | +51.6 |
| July | 113.5% | +42.5 |
| August | 124.4% | +45.9 |
| September | 138.3% | +55.3 |
| October | 142.7% | +54.7 |
| November | 160.9% | +68.5 |
| December | 211.4% | +116.6 |
| Average | 128.0% |
Data source
Data from OECD. Last updated: 10/01/2026.