It is the rental contract index (Índice para Contratos de Locación) that Argentina's Central Bank publishes every day. Law 27,551 created it in 2020 to adjust housing rents, and it weighs the change in inflation (CPI) and in registered wages (RIPTE) equally.

Is the ICL still used?

Yes. The Law 27,551 leases, which had to use it, have ended, but the Central Bank still publishes it and since Decree 70/2023 the parties can choose it as the adjustment index. Check your lease clause.

How do I work out an ICL increase?

Divide the ICL on the adjustment date by the ICL on the day the period started and multiply the rent by that number. The calculator does it for you with the Central Bank's data and shows the math of each adjustment.

Argentina rent calculator by ICL

What you pay today and what you will pay at the next increase, with the Central Bank's rental contract index.

Arentof thatstartedin ,withincreasesevery anda lease,usingtheICL.

Today

$619,888

+6.3% since Nov 2026

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Next increase · Feb 2027

projected $654,602+5.6%

Monthly ICL change

Optimistic14.2% a yearMarket21.4% a yearSteady24.4% a yearPessimistic32.7% a year

1.8%

Nov 2026%

Source: BCRA up to Nov 1, 2026. Market: the inflation expected by the BCRA REM; the other scenarios start from the latest published figure.

Increases

+54.2% over the whole lease

Feb 2026
$500,000
Lease start
May 2026
$535,000
+7%
Aug 2026
$583,150
+9%
Nov 2026Today
$619,888
+6.3%
Feb 2027
projected $654,602
+5.6%
May 2027
projected $691,260
+5.6%
Aug 2027
projected $729,970
+5.6%
Nov 2027
projected $770,849
+5.6%

The ICL increase formula

The ICL is a daily index: the increase is the value on the adjustment date divided by the value on the day the period started.

Rent in force times ICL on the adjustment date divided by ICL at the start of the period, equals New rent

ICL over the last 12 months

Value on the 1st of each month, based June 30, 2020 = 1. The values are the ones the Central Bank publishes.

Date	ICL	Monthly change
November 1, 2026	37.21	1.8%
October 1, 2026	36.54	2.2%
September 1, 2026	35.74	2.1%
August 1, 2026	35.01	2.2%
July 1, 2026	34.24	2.9%
June 1, 2026	33.27	3.5%
May 1, 2026	32.13	2.9%
April 1, 2026	31.22	2.1%
March 1, 2026	30.58	1.8%
February 1, 2026	30.03	2.2%
January 1, 2026	29.39	2.2%
December 1, 2025	28.77	1.6%

Which law governs your lease

A lease follows the rule in force on the day it was signed, even if the law changes later. Law 27,551 leases have already ended and Law 27,737 leases end before the end of 2026: almost every lease running today follows Decree 70/2023, which sets no index and no minimum frequency.

Signed	Rule	Index	Adjustment
July 1, 2020 to October 17, 2023	Law 27,551	Central Bank ICL	Yearly
October 18 to December 28, 2023	Law 27,737	Casa Propia coefficient	Every 6 months or more
Since December 29, 2023	Decree 70/2023	Whatever the parties agree, usually CPI	Whatever the parties agree

How the ICL increase is worked out

Each adjustment multiplies the rent in force by the ICL on the adjustment date divided by the ICL on the day the period started: the start of the lease or the previous adjustment. For a lease that started on March 1 with yearly increases, the next March 1 increase is rent × ICL of March 1 ÷ ICL of March 1 the year before.

The Central Bank publishes the ICL every day, based June 30, 2020 = 1, and it weighs inflation and wages equally. We read it from the official BCRA API and take the value of the 1st of each month, the date most leases adjust on. If an adjustment falls on a date not published yet, we repeat the latest monthly change; you can pick another scenario, such as what the market expects in the BCRA REM survey.

If your lease started on another day of the month, the result may differ by a few tenths: the ICL moves a little every day. Each increase is rounded to one decimal before it is applied, as the market does.

Frequently asked questions

Still have a question?

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It is the rental contract index (Índice para Contratos de Locación) that Argentina's Central Bank publishes every day. Law 27,551 created it in 2020 to adjust housing rents, and it weighs the change in inflation (CPI) and in registered wages (RIPTE) equally.
Yes. The Law 27,551 leases, which had to use it, have ended, but the Central Bank still publishes it and since Decree 70/2023 the parties can choose it as the adjustment index. Check your lease clause.
Divide the ICL on the adjustment date by the ICL on the day the period started and multiply the rent by that number. The calculator does it for you with the Central Bank's data and shows the math of each adjustment.