Argentina's inflation rate dropped to 4.2% in May, the lowest since 2022. It is attributed to the austerity measures of President Javier Milei. Meanwhile, the annual inflation slowed to 276.4%.
There is some good news and some bad news for Argentina's economy as its inflation rate has now gone down to double digits for the first time in 6 months. However, prices remain high.
Argentina has launched a new banknote worth 10,000 Argentinian Pesos, which is 5 times larger than the previous top banknote in the country. However, it is not worth much.
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.
Despite Argentina's recent failure to meet the terms of its $43 billion loan, the IMF has agreed to disburse $4.7 billion to the country. This lifeline is crucial for President Javier Milei, who is pushing for ambitious reforms.
Argentina's newly inaugurated President Javier Milei has terminated the employment of 5,000 government workers who were hired in 2023 before he assumed office.
Argentina's annual inflation rate surged to 124.4% in August, reaching its highest level since 1991 and exacerbating its painful cost-of-living crisis.
