When Javier Milei took over as president of Argentina in December 2023, monthly inflation was 25.5%. The annual rate for that year was 211%. Now it has plummeted.

Milei, a rightwing populist famous for wielding a chainsaw on stage to make a point about fiscal conservatism, made cutting inflation a central part of his campaign.

The latest figures put monthly inflation in April at 2.6%, and 32% for the year. While this is still very high and behind only Venezuela, South Sudan and Iran, it’s well below the runaway hyperinflation of........

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