Argentina’s September CPI print of 1.9% month-over-month—matching the BCRA REM median and extending two consecutive readings below 2%—has anchored trader consensus around the 1.6–1.8% and 1.9–2.1% bands for October, which together command 82% of market-implied probability. Core inflation eased to 1.7% while food and regulated prices (housing, utilities) contributed most to the headline, consistent with seasonal pressures and the slower underlying disinflation path. The Central Bank’s latest survey projects monthly readings in the 1.6–1.8% range through early 2027, with year-end annual inflation near 30%. Recent private forecasts, including Eco Go’s 1.8% October estimate, reinforce the same range. The October data release, expected in early November, remains the key near-term catalyst that could shift probabilities if food or services components deviate from recent trends.