Javier Milei's first year in office shows a major victory against inflation in Argentina, but at the expense of a deep recession.

Argentina's annual inflation rate fell to 117.8 percent in 2024, marking a significant drop of 93.6 points compared to the record 211.4 percent inflation rate of 2023. The sharp decline signals a significant turnaround for Argentina's economy under President Javier Milei.

Argentine President Javier Milei recently completed a year in office. Milei’s tenure has been a mixed bag so far. Milei, who supports minimal or no government interference in economic matters, began his tenure when Argentina was going through its worst economic crisis in at least two decades.

Javier Milei's government boasted Tuesday that it had "pulverized inflation" after statistics showing Argentine price increases falling to 117.8 percent in 2024, down nearly 94 points in the first ful

Confronted with a financial crisis, Argentina concluded the year 2024 with inflation at nearly 118 percent, significantly lower than the previous year, according to official data. The government expressed satisfaction,