Yearly inflation at almost 300% in Argentina

Yearly inflation at almost 300% in Argentina
# 15 May 2024 09:48 (UTC +04:00)

Inflation in Argentina slowed for the fourth consecutive month, despite an annual rate nearing 300%, official data showed on Tuesday, APA reports citing Deutsche Welle.

The monthly inflation rate rose at 8.8%, compared to 11% in March.

This is seen as a victory for President Javier Milei who took office in December with monthly inflation at a peak of over 25%, promising to address the rising costs.

"Inflation is being pulverized," Manuel Adorni, the presidential spokesperson, said on X. "Its death certificate is being signed."

The yearly inflation rate in April was at 289.4%, slightly higher than the annualized rate a month earlier, the official INDEC statistics agency said.

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