Argentina's Inflation Trends Hit Historic Low

Argentina's monthly inflation rate rose slightly in July to 1.9%, following expectations. This marks the third consecutive month with inflation under 2%, a pattern last seen in 2017. The annual inflation rate for July stood at 36.6%, the lowest since December 2020.

Argentina's inflation rate for July increased marginally to 1.9%, aligning with analysts' expectations, according to official data released on Wednesday. This marks the third consecutive month of month-on-month inflation remaining under 2%, a trend that had not been observed since November 2017.

Economy Minister Luis Caputo highlighted these figures on social media, pinpointing the trend as significant economic progress. Analysts had forecasted a July inflation rate of 1.8%, following June's slight rise to 1.6%, after a notable low of 1.5% in May.

The annual inflation rate in Argentina fell to its lowest since December 2020, coming in at 36.6% for the 12 months through July. This represents a decline from the 39.4% recorded in the previous month and aligns with projections.