On taking power, Milei implemented a series of austerity measures. But now signs have emerged that Argentina’s bizarre and long mismanaged economy is starting to look a little more normal.
Inflation, Argentina’s perpetual scourge and Milei’s top priority upon coming to office, slowed from a monthly rate of 25.5% in December 2023 to just 2.7% in October — its lowest level in three years.
Why is Argentina’s inflation measured monthly when the annual figure is the usual standard? Several outlets have reported this figure for almost a month now and I’m starting to wonder if this is just a case of reporters printing what the politicians say verbatim, or intentionally trying to mislead. Argentina’s annual inflation rate is 166% as of November (https://tradingeconomics.com/argentina/inflation-cpi)
Why is Argentina’s inflation measured monthly when the annual figure is the usual standard? Several outlets have reported this figure for almost a month now and I’m starting to wonder if this is just a case of reporters printing what the politicians say verbatim, or intentionally trying to mislead. Argentina’s annual inflation rate is 166% as of November (https://tradingeconomics.com/argentina/inflation-cpi)
Looking at the 5 year chart on that link doesn’t make it look like Milei has improved things, that’s for sure.