Argentina’s inflation has slowed to 2.7% in October, the lowest level in three years in a win for the libertarian government of President Javier Milei
BUENOS AIRES, Argentina -- Argentina's inflation slowed to 2.7% in October, the lowest level in three years in a win for the libertarian government of President Javier Milei who came to power almost a year ago promising to pull Argentina out of a dire economic crisis.
Argentina's statistics agency on Tuesday reported October's number. In September, inflation was 3.5%.
On an annual basis, inflation in October was 193% compared to 209% reported in September.
Milei has trumpeted falling prices in recent months as a victory in his fight against Argentina’s worst economic crisis in over two decades.
The government has promised to reduce inflation below 3% before the end of the year, something it finally did.
When he took office in December, monthly inflation surged to 25%, and despite it having gone down since, ordinary people struggle in their daily lives as the government imposed a radical economic overhaul, including the elimination of previous generous energy subsidies.
mrbeez on November 13rd, 2024 at 16:20 UTC »
2.7% monthly for Oct, 200% for the year
marsrover15 on November 13rd, 2024 at 15:21 UTC »
Not really uplifting when you look at the poverty levels
ealgron on November 13rd, 2024 at 15:12 UTC »
I thought oh that’s pretty much the target inflation the US has, then I realized that was monthly instead of yearly.