**Sustained monthly inflation near 1.9% in the third quarter of 2026, driven by President Milei’s fiscal surplus and monetary tightening, has anchored trader expectations for Argentina’s full-year inflation rate near 30-33%.** Recent INDEC data showed September year-on-year inflation at 33.4%, while the central bank’s REM survey and IMF projections cluster around 30-32.5% for the calendar year. Core measures have edged lower amid reduced price inertia, though seasonal beef prices, gas tariff adjustments, and lingering regulated-price catch-up continue to cap faster disinflation. With fourth-quarter risks largely viewed as temporary and market-implied odds heavily favoring the 30.0-34.9% band, the current pricing reflects trader consensus on policy continuity rather than a sharp acceleration or collapse.