Inflation stood at 117.8% for 2024, compared to 211.4% in 2023, according to official statistics.
Inflation in Argentina stood at 117.8% in 2024, a drop of nearly 94 index points compared to 2023 (211.4%), for the first year of the presidency of the ultra-liberal Javier. Milei, according to official statistics. The price increase in December (+2.7%) published Tuesday by the National Institute of Statistics (Indec), although up slightly compared to November (+2.4%), continues the strong upward trend. deceleration for several months. For the third consecutive month, inflation is contained below 3%, the lowest levels in three years in Latin America's third largest economy. Even if at 117.8% over twelve months, it remains one of the highest in the world.
The figures confirm “the continuity of the disinflation process”welcomed the Minister of the Economy, Luis Caputo, after the publication of the index for December and the past year. He greets “the eighth consecutive month of deceleration compared to the same month of the previous year”. In one year of government, the ultraliberal Javier Milei has regained budgetary balance at the cost of “shock adjustment”a sharp devaluation of 54%, and clear cuts in public spending.
After a peak in December 2023 (+25.5%) under the shock of devaluation, monthly inflation began a gradual but constant deceleration: +13.2% in February, +8.8% in April, since May less than 5%, and since October less than 3%. Collateral victims of budgetary austerity: purchasing power, employment and economic activity, which plunged Argentina into recession where poverty affected 52% of the population in the first half of the year. Poverty has been decreasing in recent months, says the government, citing the – disputed – figure of 38.9%, when the Specialized Observatory of the Catholic University cites 49.9%.
