Tradingeconomics

Reuters

Argentina's monthly consumer inflation fell from 3.5% in September to 2.7% in October — its 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.

Buenosairesherald

Report News Agency

The economy ministry said the figures, 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.

Bloomberg

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

Buenos Aires Times

Macaubusiness

Milei's term began in December 2023 with monthly inflation at 25.5%. Argentina has since witnessed six straight months of a rise in inflation-adjusted wages and a successful tax amnesty program that brought over $20B into the country.

Independent

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

Argentina's forex reserves 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 said that the country was "emerging from the desert" and beginning to grow again.

Reuters #

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).

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.

Bloomberg #

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%.

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.

Independent #

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.

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.

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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Argentina economic challenges lie beyond just inflation. These include deep-seated fiscal deficits, repeated debt defaults, and a reliance on currency controls that distort trade and investment. Decades of overspending have led to currency crises and increased poverty. President Milei's administration is addressing these issues by cutting subsidies and public spending, yet these austerity measures risk public backlash and economic contraction. Structural reforms and eventual dollarization are Milei's goals, but they require cautious navigation.

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Argentina

Brazil

Natural gas

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. 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.

Argentina's economic challenges lie beyond just inflation. These include deep-seated fiscal deficits, repeated debt defaults, and a reliance on currency controls that distort trade and investment and increase poverty. Milei is addressing these issues by cutting subsidies and public spending, yet these austerity measures risk public backlash and economic contraction. Structural reforms and eventual dollarization are Milei's goals, but they require cautious navigation.

There's a 15% chance that Argentina will fully dollarize its economy before 2028, according to the Metaculus prediction community.

Metaculus

Argentinean dollarization

Tomas F. Cuesta/Contributor/Bloomberg via Getty Images

Argentina's Monthly Inflation Drops to 2.7%

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Argentina's Monthly Inflation Drops to 2.7%

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

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