Argentina's annual inflation rate fell to 117.8 percent in 2024, marking a significant drop of 93.6 points compared to the record 211.4 percent inflation rate of 2023. The sharp decline signals a significant turnaround for Argentina's economy under President Javier Milei.
In December 2024, inflation stood at 2.7 percent, Argentina's National Institute of Statistics and Census (INDEC) claimed in a new report. While slightly higher than the record low of 2.4 percent in November, Economy Minister Luis Caputo attributed the uptick to "seasonal factors" tied to the holiday season and the start of summer vacations.
Despite the minor increase, December marked the third consecutive month in which prices rose by less than 3 percent. The data "confirms the disinflation process is continuing," Caputo posted on X following the report's release.
