Argentina's 2024 Inflation Falls to 117.8% Under Milei, Central Bank Cuts Peso Devaluation to 1% From February 1

Jan 14, 2025, 08:14 PM

Argentina's annual inflation rate for 2024 closed at 117.8%, a significant reduction from the 211.4% recorded in 2023, according to data released by the National Institute of Statistics and Censos (INDEC). The monthly inflation rate for December 2024 was reported at 2.7%, marking the third consecutive month with inflation below 3%. This decline in inflation rates has been attributed to the economic policies implemented by President Javier Milei's administration. In response to the December inflation data, the Central Bank of Argentina announced a reduction in the monthly devaluation rate of the peso from 2% to 1%, effective from February 1, aiming to further curb inflation.