The data marked a strong slowdown compared to the 3.4% of the previous month and ended a streak of ten months of increases.
At the division level, the category that recorded the highest increase was Transportation, with 4.4%, largely due to the impact of fuel price increases. It was followed by Education, which showed an increase of 4.2% during the month.
The April inflation was at 2.6%, according to the National Institute of Statistics and Censuses (Indec), which represented a drop of almost one percentage point compared to the 3.4% recorded in March.
This figure marked a strong change in trend, as it interrupted a streak of ten consecutive months of acceleration in the Consumer Price Index (CPI), due to the electoral uncertainty of 2025 and the risk generated by Kirchnerism.
With this result, the year-on-year variation reached 32.4%, while the accumulated figure for the year so far stood at 12.3%. The April record aligned with the forecasts of both the economic team of Javier Milei and private consulting firms, which projected a monthly inflation in a range between 2.4% and 2.8%.
If 2020 is excluded, heavily influenced by the temporary increase in money demand during the pandemic, inflation was the lowest for an April month in the entire historical series starting in 2017, reflecting the success of the Government's program.
In the breakdown by categories, Regulated prices led the increases with a rise of 4.7%, mainly driven by increases in transportation and electricity.
In second place was the core CPI, which advanced 2.3%, influenced by increases in rents, housing-related services, and spending in restaurants and dining out.
In contrast, some sectors showed more moderate variations. The smallest increases were recorded in Food and non-alcoholic beverages, with 1.5%, and in Recreation and culture, with just 1.0%.
In the case of seasonal prices, Indec reported that there was no variation, as increases in clothing due to seasonal changes were offset by declines in tourism and fruits.
The first data for May also reflect some stability in key sectors. According to surveys from private consulting firms, the Food and beverages segment showed little variation in the first week of the month. EconViews recorded a slight deflation of 0.1%, while LCG detected no increases and Analytica estimated a marginal rise of 0.3%.
In the same vein, the latest report from EcoGo projected that overall inflation could be around 2.2% monthly, although it clarified that this is a preliminary estimate subject to adjustments.
Thus, the April figure consolidates a deceleration in the pace of price increases, thanks to the successful economic program of Milei's Government.
