Historic Zero Inflation Week in Argentina: Milei Asserts New Economic Paradigm

Argentina’s battle against inflation is showing initial signs of success, with the latest data from Econometrica indicating zero inflation for food and beverages during the third week of June. 

President Javier Milei, touting this achievement, claims his administration is rewriting economic theory. The study, analyzing over 8,000 items across online stores, revealed stable prices compared to the previous week, suggesting Milei’s fiscal policies may be stabilizing inflationary pressures. Despite these gains, Argentina remains among the world’s highest inflation countries, with an annual increase of 276.4%. 

Milei, known for advocating dollarization, sees this milestone as a step towards broader economic reform, predicting a competitive currency landscape including bitcoin in Argentina’s future.

Clever Robot News Desk 26^th June 2024