Argentina’s monthly inflation rate halved to 4.2% last month for the first time since January 2022, data released on Thursday showed, a closely watched indicator that boosts President Javier Milei’s severe austerity program aimed at resolving the country's worst economic crisis in decades.
The government statistics agency reported that Argentina’s monthly inflation rate in May plunged to 4.2%, down from a monthly rate of 8.8% in April and well below a peak of 25% last December, when Milei became president with a mission to tame Argentina's sky-high inflation.
