Government officials celebrated after the official statistics institute, the INDEC, published figures showing that private consumption increased by 7.9% interannually in 2025.

However, some private consulting firms are telling a different story.

Scentia concluded that February 2026 saw a 3.4% year-over-year drop in mass consumption, and that it fell by 2.1% in the first two months of the year.

“We believe that part of the explanation for this situation can be found in the inflation seen in recent months, which has eroded consumers’ purchasing power,” stated a report released two weeks ago.

However, at different moments since 2025, President Javier Milei, Economy Minister Luis Caputo, and Deregulation Minister Federico Sturzenegger have said that “consumption is at an all-time........

© Buenos Aires Herald