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The Consumer Price Index gauges the price changes in a basket of goods and services in a defined time period. In Argentina, the CPI in March 2026 was 32.6 percent higher than the one registered the same month of the previous year, reflecting a significant decrease compared to the high inflation rates seen in recent years.

The Argentinian inflation rate has been experiencing a steep increase from December 2020 onwards, when the decreasing trend witnessed since December 2019 came to an end. 

Long history of inflation in Latin America 

High inflation rates are nothing new in Latin America. In 2024, the region's inflation rate was 16.56 percent, while the global average was much lower at 5.8 percent. Nonetheless, the main drivers of this are Venezuela and Argentina, both being in the upper table of countries with the highest inflation rates in the world. During the last few years, Venezuela entered a period with five-digit inflation rates, having to issue a new currency and implementing new policies to control price increases. 

A history of hyperinflation 

During the last couple of years, inflation has been a constant among the main problems Argentine society faces. The country returned to a three-digit inflation rate under former president Alberto Fernández, and the constant price increases took a toll on households across the board. Nevertheless, the problem is far from a recent one or the worst it's ever been; in 1989 and 1990, the inflation rate was over 2,000 percent, reaching the status of hyperinflation. Commonly, hyperinflation is defined as a price increases with over 50 percent per month.