Argentina's monthly consumer inflation fell from 3.5% in September to 2.7% in October 2024 — the lowest since November 2021. The annual rate slipped below 200% for the first time since last November, according to data from the Instituto Nacional de Estadística y Censos (INDEC).

Tradingeconomics

Reuters

The Economy Ministry said the INDEC statistics bureau's number published Tuesday are “consistent with a deepening [of] the disinflation process.” Consumer prices in Argentina have reportedly risen 107% in the first 10 months of the year and 193% over the past 12 months.

Buenos Aires Herald

Report News Agency

Pres. Javier Milei Tuesday said if inflation stayed constant in November and December, he would slow the monthly currency devaluation by the central bank from 2% to 1%. Analysts had last week reportedly pegged the monthly November inflation at 2.9%.

Bloomberg.com

Milei's term began in December 2023 with monthly inflation at 25.5%. He has since witnessed wins like six straight months of a rise in inflation-adjusted wages and a successful tax amnesty program. This week, the “anarcho-capitalist” is meeting US president-elect Donald Trump.

Buenos Aires Times

Macau Business

Milei's government has introduced radical economic reforms in Argentina this past year, like ending huge energy subsidies, which have reportedly reduced consumption drastically. The country, however, remains in deep recession and its economy is set to contract 3.5% this year.

Independent

Argentina's forex reserves reportedly stand at a negative $5B. Its basic goods prices are higher than in countries where minimum wages are higher than its own. Yet, last week, Milei reportedly said that the country was “emerging from the desert" and beginning to grow again.

Argentina: Monthly Inflation Drops to 3-Year Low of 2.7%

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Argentina: Monthly Inflation Drops to 3-Year Low of 2.7%

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