Inflation in Argentina may be the highest in the world, but with the extreme austerity measures implemented by President Javier Milei, it is slowly going down. This is considered a boost to the far-right president who is facing much scrutiny over those same extreme measures.

According to Reuters, the monthly inflation rate in Argentina went down to 13.2% in February, beating the expected 15% inflation rate for that month. Inflation got so bad in Argentina that it rose to 25.5% last December. However, it continued going down under Milei's austerity measures to just 20.6% in January.

However, that big win for Milei is still not enough as the 12-month rate through February is still below a poll forecast of 282.1%, as the annual inflation rose to 276.2% further cementing the fact that the country still has the worst inflation in the world. This has resulted in ordinary citizens experiencing a blow to their spending power and increasing the country's poverty rate.

"The impact of the cost of food is just brutal," said Ines Ambrosini, a 62-year-old citizen told Reuters in an interview. "Everything costs a lot of money, the food, the fruit, the vegetables, the meat, the dairy products."

While inflation is going down in Argentina under Milei, poverty is still going up, with estimates saying that the poverty rate might go to 60% in February. It is getting so bad that UNICEF just recently warned that the child poverty rate in Argentina could hit 70% in the first quarter of the year unless protections were strengthened.

Argentina President Javier Milei Accused of Double Standards Over 48% Pay Raise

Despite his extreme austerity measures where he cut most of Argentina's spending, Milei also gave himself a 45% raise, with his salary going up to 6 million Argentinian pesos last month. Of course, this raised a lot of eyebrows in the country.

Milei blamed the raise in his salary on Labor Secretary Omar Yasin, whom he fired over the scandal, saying that the raise he gave himself and other top government officials was "an error that should not have been made."

However, the various Argentinian opposition parties pointed out the hypocrisy of the president as they pointed out that Milei signed the raise in his own salary. Former President Cristina Fernandez de Kirchner also slammed the current president, saying, "Admit that you signed, got paid, and got caught."

Argentina Scientists Say Javier Milei Is 'Dismantling Science'

Among those hit by Milei's extreme austerity measures is the country's scientific community. Academics are saying that the cut to the budget of the National Scientific and Technical Research Council (CONICET), Argentina's main science agency, might even force it to shut down.

According to Nature.com, this has led many scientists and researchers to protest on the streets as the cuts to CONICET might affect the 12,000 researchers at about 300 institutes that it supports, as well as the 1,300 to 600 graduate-student scholarships it grants.

Even 68 Nobel prizewinners in chemistry, economics, medicine, and physics, expressed their dismay at Milei, writing a letter to the Argentinian president, saying, "We watch as the Argentinian system of science and technology approaches a dangerous precipice, and despair at the consequences that this situation could have for both the Argentine people and the world."

This article is owned by Latin Post.

Written by: Rick Martin

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