Argentina’s national statistics agency INDEC said wholesale prices rose 2.8% in July, matching the second-strongest monthly reading of the past year. The gain was led by a 5.7% jump in imported goods, while domestically produced items such as agricultural products, chemicals and refined petroleum also moved higher. The latest increase lifted wholesale inflation to 12.3% for the first seven months of 2025 and 20.9% from a year earlier, underscoring persistent price pressures even as headline consumer inflation eased to 1.9% in July. INDEC also reported that the Construction Cost Index for Greater Buenos Aires advanced 1.6% last month, taking its rise to 10.9% so far this year and 31% over the past 12 months. Labour expenses climbed 1.7% and materials 1.5%, with elevator equipment and earth-moving works posting the steepest monthly increases. The figures arrive as the agency prepares a broader revision of price baskets, a step requested by the International Monetary Fund to improve the quality of Argentina’s inflation statistics.