Monthly inflation for Buenos Aires was 12% in September, according to the city government’s second price index since August’s 22% devaluation of the peso. It is the highest monthly figure since the government began tracking inflation in 2012. Last month’s figure broke August’s record of 10.8%.

The new data show that inter-annual inflation in the capital was 140.9%, up significantly from 127.3% in August. Prices in the city have risen by 101.3% in 2023 to date.

These increases were driven by sectors including food, drink, housing, utilities, hospitality, and clothing, the Buenos Aires city government’s General Directorate of Statistics and Census (DGESYC, by its Spanish acronym) wrote in its monthly report.

Food and beverages went up by 14.1%, driven by meat, bread, dairy products, and fruit. Food costs also drove the increase in the hospitality sector, which saw prices rise by 13.8%. Housing was up by 9.6%, particularly due to higher rents. The 12.6% increase in transportation is down to hikes in the prices of air tickets, cars, fuels, and lubricants. Clothing went up by 15.4%, due to the change of seasons.

According to the consulting firm Ecolatina, inflation in Greater Buenos Aires was 12.4% in September. “Although the drought problem is beginning to recede, the same cannot be said for the increase in food prices, which is currently impacted by the devaluation following the PASO primaries,” the company’s report said.

Consulting firms expect double-digit inflation nationally for September. The National Institute for Statistics and Census (INDEC) will release the national figure for September on October 12.