Progress in Argentina?

Monthly inflation in Argentina could fall below 10% in April, a sign that the government’s policies are working, President Javier Milei said Sunday in a phone interview with LN+.

“Wages are already starting to beat inflation,” Milei said. “The fight against inflation is yielding results.”

Argentina’s monthly inflation slowed more than expected in March, cooling for the third consecutive time as Milei’s austerity policies affect consumer spending. Consumer prices rose 11% from February to March, less than economists expectations for 12.1%. From a year ago, inflation accelerated to 287.9%, the highest level since the country exited hyperinflation in the early 1990s.

Milei said that in the last two weeks there have been signs of deflation in food and beverages and highlighted that the benchmark interest rate has dropped to 60% from 133% when he took office.

Here is more from Manuela Tobias at Bloomberg.  Here is a good short piece on whether the Milei disinflation is sustainable.