Milei Cools Argentina Wholesale Inflation to Lowest Since 2020
Argentine President Javier Milei notched another economic victory Tuesday after data showed wholesale prices declined in May for the first time since the height of the pandemic, adding to his momentum before October midterm elections.
The producer price index fell 0.3% from April and rose 22.4% on the year, according data from the national statistics agency. It's a sharp turnaround from December 2023, Milei's first month in office, when wholesale monthly prices soared 54%. The libertarian often uses the indicator to warn that Argentina was nearing hyperinflation due to his predecessor's policies.
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