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Argentina's Inflation Rate Continues to Decline

Monthly inflation rate drops to 88%

Despite progress, inflation remains high

BUENOS AIRES, March 15 (Reuters) - Argentina's monthly inflation rate slowed down more than expected to come in at 132 in February, a boost for the government's efforts to tame rising prices.

The National Institute of Statistics and Censuses (INDEC) said on Tuesday that the consumer price index (CPI) rose by 88% in May from a year earlier, down from 111% in April. This is the lowest monthly rate since January 2022.

The decline in the inflation rate is due in part to a slowdown in the increase in food prices. Food prices rose by 2.1% in May, compared to 3.3% in April.

Despite the progress, inflation remains high in Argentina. The annual inflation rate is still over 100%, the highest level since the early 1990s.

The government has taken a number of steps to try to reduce inflation, including raising interest rates and cutting spending. However, these measures have had limited success so far.

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