Argentina consumer prices rose 3.5% in October, above analyst estimates, the official statistics agency said on Thursday, a blow for the Peronist government ahead of midterm elections on Sunday in which rampant inflation is a key concern for voters. The South American country’s rolling 12-month inflation was clocked at 52.1% in the month and 41.8% in the first 10 months of the year. Argentina’s government had moved to tamp down inflation with an array of price freezes on household goods. But low confidence in the peso currency and spending to revive growth have counteracted that. “Without solving the problems in the exchange and monetary markets it will be very difficult to reduce inflation significantly,” said Roberto Geretto, an economist at Fundcorp, ahead of the result. “The only certainty is that the number is going to be high.” Argentina’s peso has slipped to over 100 per U.S. dollar, with greenbacks being traded for twice that amount in alternative markets that have flourished due to strict capital controls. That gap pushes up expectations of a devaluation and sharpens inflation. Analysts polled by Reuters ahead of the data release had predicted a 3.2% monthly rise, with a wide range of forecasts between 2.5% to 3.7% for the month.