The National Institute of Statistics and Census of Argentina (INDEC) announced on Thursday that the country’s inflation rate for September was 3.5 percent.
September’s result marks the lowest inflation rate recorded in Argentina since November 2021 and is the result of President Javier Milei’s “shock therapy” economic measures that have steadily reduced inflation from 25.5 percent at the time he took office in December 2023 to September’s 3.5 percent.
Milei’s policies aim to overturn Argentina’s years-long economic crisis exacerbated under leftist governments, which dramatically worsened during the administration of Milei’s predecessor, socialist former President Alberto Fernández (2019-2023).
Under Fernández, inflation was 12.7 percent during September 2023. By the time he left office in December, Argentina was on the verge of a complete economic collapse, with 1,020 percent total inflation accumulated throughout his four-year term. […]
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