BUENOS AIRES (AP) – Argentina’s inflation slowed to 2.7 per cent 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 per cent.
On an annual basis, inflation in October was 193 per cent compared to 209 per cent 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 three per cent before the end of the year, something it finally did.
When he took office in December, monthly inflation surged to 25 per cent, 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.
