Although the yearly inflation rate is the highest it has been in decades, the monthly inflation figure decreased more than experts predicted. Javier Milei’s government has introduced strict austerity policies.
Inflation in Argentina slowed for the fourth consecutive month, despite an annual rate nearing 300%, official data showed on Tuesday.
The monthly inflation rate rose at 8.8%, compared to 11% in March.
This is seen as a victory for President Javier Milei who took office in December with monthly inflation at a peak of over 25%, promising to address the rising costs.
This is the best summary I could come up with:
Inflation in Argentina slowed for the fourth consecutive month, despite an annual rate nearing 300%, official data showed on Tuesday.
This is seen as a victory for President Javier Milei who took office in December with monthly inflation at a peak of over 25%, promising to address the rising costs.
When the self-proclaimed “anarcho-capitalist” Milei came into power, he inherited a severe economic crisis with Argentina’s inflation among the highest in the world.
Milei’s administration implemented strict austerity measures to stabilize the economy, including slashing public spending and reducing the budget deficit.
“You’ve had a massive collapse in private spending, which explains why consumption has dropped dramatically and why inflation is also falling,” said Monica de Bolle, a senior fellow at the Peterson Institute for International Economics who studies emerging markets.
Augustin Perez, 23, a supermarket worker in the suburbs of Buenos Aires, saw his rent increase by 90% after Milei deregulated the real estate market and his electricity bill rise by 300% since the government slashed subsidies.
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