Argentina's Inflation Falls to Single Digits for First Time in Six Months

Economic measures by President Javier Milei show mixed results as annual inflation remains near 300% and austerity impacts citizens.

April's inflation rate was 8.8%, the lowest since Milei took office in December 2023.
Despite monthly improvements, annual inflation stands at 289.4%, one of the world's highest.
Milei's austerity measures include cutting public jobs and slashing subsidies, praised by investors but criticized for hurting the poor.
Private spending has collapsed, leading to a sharp drop in consumption and economic activity.
The IMF approved an $800 million loan to support Argentina's economic stabilization efforts.