LatinNews Daily - 11 October 2024

*Argentina’s national statistics institute (Indec) has released its consumer price index for September, showing a monthly inflation rate of 3.5%, down from 4.2% in August and 4.0% in July. The annual inflation rate stood at 209.0%, down from 236.7% in August and 263.4% in July. This represents the lowest annual inflation rate since November 2023, while the monthly rate was the lowest since late 2021. In September all 12 categories of goods and services measured saw a monthly rise in prices, with the greatest increases recorded in housing, water, electricity, gas & other fuels (+7.3%), clothing & footwear (+6.0%), and education (4.3%). “You’ve never seen inflation fought like this before. It takes a little longer but it’s real,” Milei wrote on social media after the inflation figures were published, stating his government had managed to slow inflation without first going through hyperinflation, without expropriating assets, without fixing the exchange rate, and without controlling prices.