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Snapshot 6:Wed, Nov 13, 2024 8:05:45 AM GMT last edited by Vandita

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

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

Above: **Watermarked Getty Image. Kindly Replace** Image copyright: Contributor/Bloomberg via Getty Images

The Spin

Despite inheriting an economy ravaged by 211% inflation, Pres. Milei's bold "shock therapy" is bearing fruit in Argentina. His uncompromising focus on balancing budgets and ending money printing has driven inflation down dramatically from 25% in December 2023 to 2.7% by October 2024. While the path has been painful, with necessary recession and spending cuts, the strategy's success is evident in renewed mortgage lending and surprising economic growth.


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