Argentina's monthly inflation hits 4%, lowest figure since 2022

According to research by “Instituto Nacional de Estadística y Censos de Argentina (INDEC, in its Spanish acronym)”Argentina's monthly inflation reached its lowest percentage since 2022. Prices rose 4% in July; a drop of 0.6% compared to June. The number is within the forecast made by economists consulted by “Bloomberg”.

The country's annual inflation also slowed, representing 263.4% according to government data published this Wednesday (14). The variation in prices has been stable since May, when it fell 4.2% compared to April. It is worth noting that inflation peaked at 25.5% in December last year, when Javier Milei took office as president of Argentina.

Taxes were postponed

Argentina’s government opted not to add taxes on fossil fuels and utility bills in July. Otherwise, 1.2% could have been added to inflation of 4%. In a radio interview, Economy Minister Luis Caputo stressed the country’s priority:

“Energy tariffs are a delicate balance between reducing subsidies and inflation… The priority is to reduce inflation.”

Furthermore, the fact that the government has had consistent surpluses – the first positive one in the semester since 2008 – also contributes to controlling inflation. Compared to 2023, economic subsidies fell by 43%.

_{Capital of Argentina, Buenos Aires suffers from inflation of vegetables and legumes (Photo: reproduction/matcuz/Pixabay)}

Alberto Fernandez scandal

In addition to the improvement in the economic scenario, there is intense coverage regarding Alberto Fernández, the country's last president and opposition figure. Fabiola Yañez, former first lady, reported Fernández for assault and harassment. In the document, she claims that she suffered from “habitual beatings” and “reproductive violence”.

She currently lives in Madrid with her son Francisco, having moved there after their separation. Alberto Fernández lives in the Puerto Madero neighborhood of Buenos Aires. Experts point to the controversy as a factor in Javier Milei's increased popularity.

Featured Photo: President Javier Milei was elected in 2023 (reproduction/Antonio Masiello/Getty Images Embed)