The Argentine Chamber of Commerce and Services (CAC) announced on Mar. 30 that its Consumption Indicator (IC) recorded a year-on-year increase of 0.5% in February, with a seasonally adjusted monthly growth of 0.9% compared to January.
The IC, developed by the CAC, tracks the evolution of household consumption in final goods and services on a monthly basis, offering additional insights into commerce and economic activity trends.
According to the CAC, this latest data marks a return to positive annual growth after three consecutive months of decline. The indicator had previously shown positive year-on-year variations during the first half of 2025. In seasonally adjusted terms—which remove recurring seasonal effects—the IC rose by 0.9% from January to February.
The report highlights that these changes occur against a backdrop of rising inflation since mid-2025. The Consumer Price Index (CPI) increased by 2.9% in February alone, marking six months with inflation above the 2% threshold—a level not seen since April 2025—and an annual rate climbing to 33.1%. This is the third consecutive month showing an uptick in annual inflation following more than a year of declines since mid-2024.
Global factors are also influencing domestic conditions: “the war in the Middle East has caused significant increases in fuel prices worldwide,” which is expected to drive up global inflation due both to higher oil prices and increased logistics costs, affecting Argentina as well and reducing purchasing power for many sectors.
Sectoral analysis reveals mixed results within the index components: clothing and footwear grew by an estimated 12.8%, largely due to low bases from previous years; transport and vehicles fell by -1.7%; recreation and culture advanced by 1.7%; while housing, rents, and public services declined by -4.9%, mainly because electricity demand dropped sharply.
Fast-moving consumer goods saw a yearly decrease of -3.4%, while durable goods consumption showed mixed trends after earlier improvements during most of last year.
In summary, mass consumption appears weaker following recovery throughout much of last year, whereas durable goods show variable performance amid broader economic shifts.
