In January 2023, the National Institute of Statistics and Censuses (Indec) in Argentina reported a Consumer Price Index (CPI) increase of 2.9%, which surpassed analysts' expectations and marked a slight acceleration from the previous month's rate of 2.8%. This announcement comes amidst a backdrop of controversy surrounding the credibility of Indec's inflation statistics, particularly following the resignation of its former director, Marco Lavagna. The government has also faced criticism for halting the publication of updated inflation indices, which has raised doubts amongst economists about the accuracy and transparency of these figures.

The reported CPI increase is significant as it continues a trend of accelerating inflation, with the current rate being the fifth consecutive monthly increase. According to the Central Bank of Argentina's Economic Expectations Survey, private economists had anticipated a lower CPI rate of 2.4% for January. The discrepancies between market expectations and actual figures suggest that inflationary pressures in the economy remain more pronounced than anticipated, particularly in key areas such as food prices, which have seen sharp rises.

This situation has implications for economic policy and public sentiment in Argentina, especially as the government touts its efforts to control inflation as part of its economic agenda. The ongoing disputes about the validity of statistical reporting by Indec could further erode public trust in government economic policies. As inflation continues to rise, the pressure on consumers and the economy at large intensifies, positioning the inflation issue as a central theme in Argentina's political and economic discourse as the country moves forward into the year.