Rents: how much increased in October

The annual increase in rents in October was an average of 67%, according to the index provided for in the Rental Law No. 27,551 prepared by the Central Bank (BCRA), which contemplates the evolution of wages and inflation. In this way, rents increased below inflation in the last 12 months, since the year-on-year variation until August was 78.5%.
Rents increased on average by 67% in September 2022.

According to the calculation that arises from the variation established by the Index for Lease Contracts (ICL) prepared daily by the BCRA, the average increase in rents in October was 67%. In this way, if a tenant paid a monthly rent of $ 20,000 between October 2021 and September 2022, with the increase he would go on to pay $ 33,462.
To calculate the increase in the rental price they have to enter to consult the Index of Lease Contracts (ILC) published every day by the Central Bank (BCRA) on its official site, this indicated contemplates the variation of inflation (according to the CPI measured by the Indec) and wages, according to the remuneration of stable workers (Ripte), as provided for by law. To apply the adjustment based on the ICL, the ICL of the start of the contract and the date of the increase must be taken into account. The index can be consulted by entering the BCRA website, clicking on “statistics” and then on “main variables”, in the Option Index of Lease Contracts, which is at the end of the list that is displayed. To withdraw the account it is necessary to take the initial amount of the contract, it is divided by the value of the ICL of that date. Then, the amount resulting from the first account is multiplied by the ICL of the rental update date and gives the price of the new rental.  Example: If the contract was signed on October 1, 2021 for a value of $20,000, the updated amount to be paid as of October 1, 2022 will be $33,462.

Original source in Spanish