Argentina Two-Speed Inflation: Goods Deflate on Peso Strength, Services Persist

Argentine inflation data for September 2026 shows a divergence: food and service prices continue rising with higher annual variation, while goods posted their first negative monthly change in nearly two years, likely reflecting the peso's 16.2% appreciation against the dollar since December 2025. This suggests exchange-rate-driven disinflation in tradable goods, but persistent stickiness in services, complicating the central bank's easing path.