Argentina President Milei says inflation to fall below 10% in April

President Javier Milei expressed optimism in a phone interview, suggesting that Argentina’s monthly inflation may drop below 10% in April, indicating the effectiveness of government policies. He noted that wages are beginning to outpace inflation, citing progress in the battle against rising prices. March saw inflation slowing more than anticipated for the third consecutive month due to austerity measures impacting consumer spending. However, inflation remains high at 287.9% annually, the highest since the 1990s. Milei highlighted recent signs of deflation in food and beverages and emphasized a significant drop in the benchmark interest rate from 133% to 60% since taking office. The central bank has also reduced rates to 60% from 70%, marking the fourth cut under Milei’s tenure. Additionally, Milei announced plans to start government debt payments to state power wholesaler Cammesa in June, thanks to a financial surplus, offering peso-denominated bonds to settle debts with gas and electricity companies.

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