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Argentina records lowest inflation in three years and Milei expects support from Trump

Argentina records lowest inflation in three years and Milei expects support from Trump

The National Institute of Statistics and Census of Argentina (Indec) reported that last month’s inflation was 2.7%, the lowest since November 2021. In September this year, the index was 3.5%, confirming the downward trend. In December last year, when Milei took office and the combination of the Argentine crisis and the strong devaluation of the peso caused a spike in price markups, inflation was over 20%.

But to not be defined as poor, according to local rules, a family of four needs to earn almost one million pesos (equivalent to 5 thousand reais). The high cost of living and increasing poverty rates are today the biggest challenges for Argentines. Poverty leads the population’s concerns, according to research published in Clarín in Spanish.

The Argentine president continues to confirm that he is on the right path and that the chainsaw generates positive results. In this environment, he will embark in the next few hours to participate, in Palm Beach, in the United States, alongside President-elect Donald Trump, in another edition of the Conservative Action Conference (CPAC). Milei is euphoric about Trump’s return to the White House. According to Presidential spokesman Manoel Adorni, Trump and Milei spoke and the American reportedly told the Argentine that he is his “favorite president”.

In addition to ideological identity and undisguised admiration for Trump, Milei hopes that the United States, after Trump’s inauguration in January, will support Argentina and that new loans will be released for the country, mainly through the IMF. Argentina already pays a record sum to the Fund, which was acquired during the government of Mauricio Macri. The government understands that with more money it can end exchange controls and stimulate economic growth. The Argentine economy is expected to fall 3.5% this year and could grow (recover) 5% in 2025, according to the international organization.

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