Argentina's monthly inflation drops to 2.7%, the lowest level in 3 years
Argentina's President Javier Milei walks on the floor of the New York Stock Exchange before ringing the opening bell in New York, Sept. 23, 2024. Credit: AP/Seth Wenig
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.
'No one wants to pay more taxes than they need to' Nearly 20,000 Long Islanders work in town and city government. A Newsday investigation found a growing number of them are making more than $200,000 a year. NewsdayTV's Andrew Ehinger reports.
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