Argentina's Economy Minister Luis Caputo confirmed that March inflation exceeded 3%, making it the steepest monthly reading of the year, driven by rising fuel costs linked to the Middle East crisis and seasonal adjustments in regulated prices such as electricity, transportation, and education. The figure marks an acceleration from the 2.9% recorded in each of the previous two months and extends a run of ten consecutive months above 2%, pushing first-quarter cumulative inflation to around 9.1% — well above the government's official annual target of below 18%. Despite the unfavourable data, Caputo insisted that a disinflation trend would take hold from April onward, while President Javier Milei maintains that monthly inflation will fall below 1% by mid-year — a forecast private analysts do not share, with markets expecting price rises to remain above 2% monthly at least through the second quarter.