April 17th, 2026
1. Inflation in March was 3.4%, bringing the 12-month cumulative rate to 32.6%
The National Institute of Statistics and Censuses (INDEC) released the Consumer Price Index (CPI) for March last Tuesday, which showed a monthly increase of 3.4%. This figure represents an increase of 0.5 percentage points from the 2.9% recorded in February and brings the year-to-date total to 9.4%, while the year-over-year change stood at 32.6%. This marks the tenth consecutive month of accelerating CPI growth, which has been on an upward trend since July 2025, when it stood at 1.9%. Among the factors driving the March increase are the impact of oil prices amid the conflict in the Middle East, fuel price adjustments, and seasonal pressures linked to the start of the school year. In this context, Economy Minister Luis Caputo had already anticipated days before the data’s release, during an event at the Rosario Stock Exchange, that March inflation would exceed 3% as a result of the shock in crude oil prices. Meanwhile, INDEC released the figures for the basic food baskets for March. The Total Basic Basket (TBB), which defines the poverty line, registered a 2.6% increase compared to February, meaning that a typical family of four needed $1,434,464 to avoid falling below that threshold. Meanwhile, the Basic Food Basket (BFB), which measures the poverty line, rose by 2.2% over the same period, reaching $658,010 for the same household. For the first quarter of the year, the BFB recorded an 11.6% increase, while the TBB rose by 9.6%. Finally, the wholesale CPI, released yesterday, stood at 3.4%, the same figure as retail inflation.
El Cronista: La inflación de marzo fue de 3,4% y acumula 32,6% en los últimos 12 meses
2. Milei spoke at the AmCham Summit following the release of the March inflation figures
President Javier Milei attended the AmCham Summit, where he delivered a speech in which he discussed the government’s economic direction following the release of the March Consumer Price Index (CPI), which showed a 3.4% increase. The event took place in Buenos Aires and was attended by government officials and representatives from the private sector. During his address, the president stated that his administration seeks to consolidate a process of economic stabilization and affirmed that the country is in a position to begin a phase of growth. In this context, he noted that the goal is “to write the best chapter in Argentine history.” The President attributed March’s inflation figures to external factors, particularly the impact of international oil prices, and reiterated that the government’s economic program aims to reduce inflation in a sustained manner. He also defended the measures implemented by his administration and emphasized the importance of maintaining fiscal balance. Milei’s remarks came at the close of the event organized by the American Chamber of Commerce in Argentina (AmCham), one year after the lifting of currency controls. The AmCham Summit brings together leading figures from the political and business worlds each year to discuss the country’s business climate and economic outlook.
Perfil: Milei en AmCham Summit: “Aceptar más inflación para crecer es una basura”
3. The IMF approved the review of the agreement with Argentina and authorized a disbursement of $1 billion
The International Monetary Fund (IMF) approved the second review of its agreement with Argentina and authorized a disbursement of $1 billion, following an assessment conducted in Washington. The decision was confirmed on April 15 and is part of the current program with the IMF. Economy Minister Luis Caputo commented on the approval, noting that it represents “an important step” within the agreed framework. He also highlighted the understanding reached with the IMF and stated that, following his presentation to the organization, there was a “surge of optimism” regarding the progress of the economic program. For her part, IMF Managing Director Kristalina Georgieva indicated that the organization will continue its dialogue with the Argentine government and that the latest inflation data will be analyzed together with the economic team. In this context, March inflation registered a 3.4% increase, according to official data. At the same time, the government is negotiating with multilateral organizations such as the World Bank, the Inter-American Development Bank (IDB), and CAF to secure guarantees that will allow it to meet the upcoming debt maturity. These efforts include the possibility of utilizing financing from international banks. The approved disbursement is part of the periodic reviews of the agreement and aims to support the ongoing economic and financial program.
4. Registered employment has fallen, with more than 300,000 jobs lost since the end of 2023
Registered employment in Argentina fell again, with a cumulative loss of more than 300,000 jobs since the end of 2023, according to data released on April 16. Over the past year, the decline exceeded 124,700 formal jobs. The decrease extended to various sectors of the registered labor market and has been recurring in recent months. At the same time, there was an increase in the number of single-tax payers, reflecting changes in the composition of the labor market. According to the surveys, the decline in formal employment is occurring against a backdrop of lower economic activity. On a year-over-year basis, the reduction exceeds 124,700 jobs, while the cumulative total since the end of 2023 stands at 300,000 fewer jobs. The reports also indicate that, over the past two years, the loss of registered employment has become an established trend. During that period, the decline in formal employment was accompanied by growth in self-employment arrangements. In this scenario, the data show a restructuring of the labor market, with a greater share of non-salaried arrangements amid the decline in formal employment. The data are based on administrative records and provide insight into the recent evolution of formal employment in the country.
5. Chief of Cabinet Adorni visited Vaca Muerta oil field while while the investigation into illicit enrichment continues
Chief of Staff Manuel Adorni traveled to Neuquén Province on Thursday with the Secretary General of the Presidency, Karina Milei, to visit Vaca Muerta. During the visit, Adorni toured the oil field as part of an event organized by YPF, where they were welcomed by leaders of La Libertad Avanza in the province, including Senators Nadia Márquez and Pablo Cervi. During the visit, the officials did a private tour of the YPF plant accompanied by the company’s CEO, Horacio Marín, and held a meeting with oil companies and stakeholders in the hydrocarbon industry, in line with the national government’s strategy to strengthen ties with the energy sector, which accounts for a significant portion of the growth in formal private-sector employment over the past year. The visit also took place against the backdrop of the judicial investigation involving the Chief of Staff. In this context, those close to Karina Milei are seeking to reinvigorate Adorni’s profile. The investigation into alleged illicit enrichment has highlighted, over the past week, possible irregularities in both property purchases and travel over the past year involving expenses that were not previously declared.