Milei’s Chainsaw Austerity Is Slowing Argentina Inflation: Chart

(Bloomberg) -- President Javier Milei, who pledged to rebuild Argentina’s crisis-ravaged economy, reach a fiscal balance at any cost this year and tame rampant consumer price increases, is getting results on the inflation front. Government data posted Tuesday showed that consumer prices rose 8.8% in April, the first single-digit monthly reading since October, matching the median estimate of economists. The annual rate ticked up to 289.4% from 289.2% in March. Analysts see subsequent prints slowing steadily going forward to a year-end reading of 161.3%, almost 66 percentage points lower than their 227% estimate from January.

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--With assistance from Rafael Gayol.

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