Staunchly libertarian Argentinian President Javier Milei’s economic plans are proving enormously successful, as the country’s inflation plunged to 2.7% in October, the lowest level in three years.
Milei was elected roughly one year ago, but the measures he has taken have revivified the once-crippled Argentinian economy, where inflation dropped in October to 2.7% after registering at 3.5% in October. Milei had promised to lower inflation to less than 3% before the end of 2024.
“We are decreasing the tax that creates the most distortion: inflation,” Economy Minister Luis Caputo stated.
In 2022, the Argentinian inflation rate was 72.43%. Barrons reported that when Milei took office last December, “monthly inflation leapt by 25.5 percent after he devalued the peso by more than 50 percent. It has since been on a downward trajectory, coming in at under five percent each month since May. … Milei, who wielded a chainsaw on the campaign trail last year as a symbol of his plan to…
