*Argentina’s national statistics institute (Indec) has released its latest consumer price index (IPC), showing a continued slowdown in the annual inflation rate, which fell to 66.9% in February, down from 84.5% in January and 117.8% in December. However, on a monthly basis, inflation stood at 2.4%, slightly up from 2.2% in the previous month although still below the 2.7% recorded in December. Among the categories experiencing the highest monthly price increases, housing, water, electricity, gas and other fuels saw the most significant rise, with costs increasing by 3.7%. This was largely driven by higher rental prices and fuel-related expenses. Food and non-alcoholic drinks followed with a monthly price increase of 3.2%, primarily due to rising prices of meat and meat derivatives. Meanwhile, the smallest price hikes were recorded in household appliances and maintenance (1.0%) and clothing and footwear (0.4%), the latter rebounding from a decline of -0.7% in January. Reacting to the data on social media platform X, Argentina’s President Javier Milei predicted that if the trend persists, monthly inflation could drop below 2% as early as April or May.
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