Recent monthly inflation readings near 2% and a July 2026 annual rate of 33.8% have anchored trader expectations for Argentina’s full-year 2026 outcome in the low-to-mid 30% range, with the 30.0–34.9% band holding a narrow 51% edge over the 25–29.9% interval at 44.5%. President Milei’s fiscal austerity and tighter monetary framework continue to deliver disinflation from prior hyperinflationary levels, supported by primary surpluses and gradual exchange-rate flexibility, though persistent monthly inertia and base effects have slowed the pace of decline. Central-bank surveys and IMF projections cluster around 30%, reflecting consensus that further moderation is likely but vulnerable to external shocks or policy slippage. With four months remaining, resolution hinges on whether August–December prints sustain the recent sub-2% trend or reaccelerate, keeping the two leading buckets competitively priced.