Argentina’s monthly expense boost drops to 2.7%, the lowest level in 3 years

BUENOS AIRES, Argentina — Argentina’s expense boost slowed to 2.7% in October, the lowest level in three years in a triumph for the libertarian government of President Javier Milei who came to power almost a year ago promising to pull Argentina out of a dire economic crisis.

Argentina’s statistics agency on Tuesday reported October’s number. In September, expense boost was 3.5%.

On an annual basis, expense boost in October was 193% compared to 209% reported in September.

Milei has trumpeted falling prices in recent months as a win in his fight against Argentina’s worst economic crisis in over two decades.

The government has promised to reduce expense boost below 3% before the complete of the year, something it finally did.

When he took office in December, monthly expense boost surged to 25%, and despite it having gone down since, ordinary people battle in their daily lives as the government imposed a radical economic overhaul, including the elimination of previous charitable vigor subsidies.