Consumer prices in Argentina rose 1.9% in September, up from 1.7% in August, the national statistics agency INDEC said Tuesday, according to the Buenos Aires Times and La Nación.

The figure matched the 1.9% forecast in the central bank's latest survey of market experts, both outlets reported.

Prices rose 33.4% from a year earlier and 23.6% so far this year, the Buenos Aires Times said.

Inflation has mostly slowed since April, though it reached 2.1% in July, the Buenos Aires Times reported. President Javier Milei's government wants to keep monthly inflation below 2%.

Housing, water, electricity, gas and other fuels rose the most, by 3.1%, both outlets reported. Education rose 3%, communications 2.5% and health care 2.4%.

Core inflation, which leaves out regulated and seasonal prices, fell to 1.7% from 1.8% in August, La Nación reported. Seasonal prices jumped 2.9%, with round tomatoes up 34.1% and onions up 24.6% in the month.

Government spokesperson Adrián Ravier said inflation below 2% was "a good number compared with where we have come from," the Buenos Aires Times reported. Economy ministry adviser Felipe Núñez said on X it was the lowest September rise since 2017, La Nación said. He blamed the figure partly on higher utility rates and world energy prices tied to the war in Iran.

The central bank's survey sees inflation of 1.7% in October, 1.6% in November and 1.8% in December, La Nación reported. It sees the year ending near 30%.

The slowdown in inflation has come as households lose buying power and factories cut jobs during the government's spending cuts, the Buenos Aires Times said. On Tuesday, the International Monetary Fund cut its 2026 growth forecast for Argentina to 2.1% from 3.5%.

What we know: Monthly inflation rose to 1.9% in September, as expected.
What we don't: Whether it will stay below 2% for the rest of the year.