Argentina’s inflation has slowed dramatically since President Javier Milei took office, but many residents remain skeptical of the official figures and continue to feel the impact of high prices in their daily lives. Inflation has fallen from 25.5% in December to 4.2% in May, a drop attributed to austerity measures and reduced money printing. However, June saw an uptick to 4.6%, ending a five-month streak of declining prices.
Many Argentines believe the official figures underestimate the true inflation they experience, especially in necessities like food, transport, and utilities. The monthly minimum wage of 234,315 pesos ($260) fails to keep up with the annual inflation of nearly 300%, leaving many struggling to make ends meet.
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Milei’s government has justified price hikes, particularly in public services like transport, as necessary for economic revival. Despite the decrease in inflation, Argentina still faces the highest inflation rates globally, a recession, rising poverty (nearing 60%), and job losses.
While Argentina’s inflation is declining, the public’s skepticism and continued economic hardship highlight the challenges the country faces. The government’s efforts to control inflation are not yet translating into a tangible improvement in living standards for many Argentines.