Argentina’s monthly inflation is likely to stay below 3% in November, one of the lowest levels this year.
The country has been struggling to battle one of the world’s highest inflation rates, reaching nearly 300% annually at its highest. The slight increase expected this month follows a steady decline in monthly inflation since last December, when it hit around 25%. That was when President Javier Milei took office, vowing to cut public spending, reduce the deficit, and lower prices. He has been carrying this policy, and according to recent numbers it seems like it is starting to work. However, infilation remains high compared to global standards.
Poverty also remains a serious problem despite the efforts. A report from the Argentine Catholic University (UCA) showed that 53% of Argentines were living in poverty during the first half of 2024, the highest rate in 30 years.
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