Argentina experienced a second consecutive month of slowed inflation in February, amidst ongoing efforts by President Javier Milei’s right-wing administration to implement austerity and deregulation policies aimed at revitalizing the nation’s ailing economy.
Data released by Argentina’s INDEC statistics agency on Tuesday revealed a decrease in monthly inflation to 13.2% in February, down from 20.6% in January and 25.5% in December. However, annual inflation remains at its highest level in three decades, reaching 276.2% in February.
Government officials and analysts anticipate a price surge in March, driven by increases in energy costs, fuel prices, private education fees, and medical service charges, among other factors.
Milei’s government attributed February’s lower inflation rate to “strong fiscal discipline.”
Identifying as an anarcho-capitalist, Milei assumed office in December and swiftly implemented a series of bold measures, including a 50% devaluation of the national currency, with the aim of eventually curbing the country’s rampant inflation.
