October inflation dipped to 8.3%, according to a report published on Monday by the National Institute for Statistics and Census (INDEC, its Spanish acronym). Additionally, year-over-year inflation hit 143.7%, while the total inflation for the first 10 months of the year reached 120%. The national budget for 2023 had forecast a 60% inflation rate for the entire year. The slowing of the national inflation rate mirrors that of Buenos Aires City, which also cooled in October and landed at 9.4%, per a separate report published last week. The “clothes and footwear” category followed suit with an 11% increase, which the report attributed to the change in season.

Source: Bueno Aires Herald November 13, 2023 19:21 UTC