Food inflation in Argentina - statistics & facts

One of the areas where inflation is most felt is food and beverages, and Argentina has felt it stronger than ever before. In 2024, for instance, Argentina is expected to have the highest inflation rate worldwide, with an annual rate of over 150 percent. Argentina has also seen some of the highest increases in food inflation worldwide. In March 2024, the consumer price index (CPI) of food and non-alcoholic beverages increased by 308 percent compared to the same month of the previous year.

Inflation is still spiking

There are several factors that have contributed to the high food prices seen nowadays, one of the latest being the currency depreciation in late 2023. This doubled the monthly inflation rate of food and non-alcoholic beverages in December, contributing to the largest monthly increase in food prices of the past years. The month-to-month increase in food prices has slowed down since then. In April 2024, the food inflation rate witnessed a one-digit increase for the first time since October 2023. Nevertheless, the food and non-alcoholic beverages CPI reached its highest level in history at 6,590, and the impact has been felt in all food categories.

All food categories are more expensive

There is no food category that has not been affected by inflation, from daily habitual drinks such as yerba mate and coffee to vegetable oils or meat. Despite it being a national problem, inflation has not been the same in all regions. For instance, Patagonia experienced the highest CPI for coffee, mate, tea, and cacao at 7,837 that same month, while the Northwest region’s CPI was around ten percent lower at 7,070 index points. On the other hand, when it comes to vegetable oils, it was the Northeast that reported the highest CPI at 7,283.9, while Patagonia’s CPI was 12 percent lower at 6,402 index points.

Inflation and consumers

Consumers in Argentina have dealt with high inflation for at least a decade. While the global inflation rate was at three percent in 2017, in Argentina it was already at 25 percent. In March 2024, around 57 percent of respondents in Argentina said that the main problem in their country was inflation, and consumers have adjusted as best they can to their economic situation. For example, that same year, around 52 percent of respondents in Argentina reported that low prices were among their most important criteria when purchasing food.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Jun 6, 2024

Key insights

Inflation rate forecast in Argentina in 2024 compared to 2023
249%
Sector with the highest inflation rate in Argentina
Food and non-alcoholic beverages
Region with the highest inflation rate
Northeast
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Editor’s Picks Current statistics on this topic

Inflation rate of food and non-alcoholic beverages prices in Argentina from January 2022 to March 2024

Food & Nutrition

Argentina: food and non-alcoholic beverages inflation rate 2022-2024

Year-on-year inflation rate of food and non-alcoholic beverages prices in Argentina from December 2017 to April 2024, by region

Food & Nutrition

Argentina: food and non-alcoholic beverages inflation rate 2017-2024, by region

Goods and services with the highest monthly Consumer Price Index (CPI) increase in Argentina in January 2023 (compared with the previous month)

Key Economic Indicators

Highest monthly CPI from goods and services in Argentina 2023

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