Argentina inflation holds steady in February, above forecast

BUENOS AIRES, March ‌12 (Reuters) - Argentina's ​monthly ​inflation rate was 2.9% in February, stable from the level registered in the ‌first month of 2026 but a tick ⁠above analysts' forecast of 2.7%, official data showed on ‌Thursday.

In the 12 months ‌through the second month of the year prices rose 33.1%, over the previous month's rate ​of 32.4% and above analysts' 32.7% forecast.

Living costs such as rent and utilities surged ⁠ahead of most other sectors, with prices up 6.8% in the ​month, followed by prices for food and non-alcoholic drinks that rose 3.3%.

Clothing costs remained ​steady and prices for ‌alcohol and tobacco rose slightly.

In a television interview this week, President Javier Milei ⁠reiterated a promise to reduce inflation to zero, setting a deadline for August. Inflation exceeded 200% ⁠when he took office at the end of 2023 and ​peaked close to 300% months later.

The data comes as Argentine officials meet with U.S. officials in Washington, as ‌the two countries look to deepen economic ties.

Last week, a monthly central bank ‌poll showed analysts still expected slower inflation, ⁠though their year-end consensus ‌forecast for 2026 ​rose from January's survey.

(Reporting by Walter Bianchi and Sarah Morland, Editing by Natalia ‌Siniawski)

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