Argentina’s inflation rate accelerated for a fifth straight month, suggesting President Javier Milei’s campaign to slash soaring prices may be faltering.
Milei inherited a monthly inflation rate of more than 25% when he came to power in 2023, but thanks in part to drastic cuts to public subsidies, the rightist leader managed to curb price rises. Still, Argentina’s inflation rate remains among the world’s highest.
Milei insists the reason for recent increases is that the inflation formula is outdated, comments that have sparked concern among experts that the president is trying to meddle with statistics. With his comments, “Pandora’s box was reopened,” a political consultant in Argentina told the Associated Press.
