March Argentina inflation vs Truflation’s data — Who's hotter?
Today, INDEC released Argentina's headline inflation for March 2026:
- Monthly inflation was 3.4% (up from 2.9% in Feb, and above consensus ~3.0%)
- Year-to-date (Q1) was 9.4%
- 12-month rolling was 32.6% year-over-year, down slightly from 33.1% in Feb, but higher than the market consensus 32.1%.
- Core inflation held steady around 2.5% MoM.
In a detailed analysis, the biggest driver was Education, which surged by +12.1% month-over-month due to the back-to-school season. Transport was the next-highest category, up 4.1% month-over-month, partly hit by oil price shocks, followed by utilities at 3.7% MoM.
What is Argentina's current inflation, according to Truflation's data?
Truflation's independent Argentinian inflation index showed 27.14% YoY CPI as of April 14th, and between 24.7% and 29.1% across March, slightly more optimistic than the official Argentinian INDEC numbers.
What's the difference between Truflation's Argentina CPI and INDEC CPI?
The Truflation Argentina Inflation Index is released daily rather than monthly and aggregates data from 10+ data providers, accessing more than 5 million price points of goods and services compared to the traditional index, which includes only 230,000 data points.
You can read the detailed methodology of our Argentina CPI here.
How did Argentina's biggest inflation drivers look in Truflation's real price data?
A detailed analysis of the drivers of Argentinian inflation in Truflation data in YoY (year-over-year) rather than the MoM (month-over-month) % rates prefered by the Argentinian government:
- Transport has been up 43.6% YoY and trending up.
- Education has been up ~25.2% YoY but trending down.
- Utilities were up 43.6% YoY and trending up.
You can access detailed analyses for all our indexes in the "Composition" tab. Subscribe to Truflation and use data credits to check inflation components for industry-specific insights.
