Prices in Argentina increased 31.5% in 2025, the lowest inflation rate since 2017, according to a report by the INDEC statistics bureau.
Although the rate is still high by international standards, inflation has decelerated during Javier Milei’s presidency. The figure is over 86 points lower than 2024’s 117.8%, the first full year of his mandate, and 180 points lower than 2023’s 211.4%, the last year Peronist Alberto Fernández was in office.
Monthly inflation in December was 2.8%. The sector with the biggest increase was transportation, which jumped by 4%.
Milei won the presidential runoff in November 2023 with the promise of eradicating inflation. That month alone, prices increased by 8.3%.
Argentina’s inflation statistics between 2006 and 2015 are not reliable because of state interference with the measurements.
Critics have said that Milei’s strategy to curb inflation consists of keeping the peso artificially strong and freezing salaries, leading to plummeting purchasing power. The situation has resulted in critical declines across several industries.
Milei has said that inflation has come down during his presidency mainly due to state cuts under his “chainsaw” campaign.
“The stabilization program based on fiscal surplus, strict control of the money supply, and capitalization of the Central Bank of Argentina will continue to be the pillars for continuing the disinflation process,” Economy Minister Luis Caputo said in a post on X.
“This is the only viable path to definitively eradicate inflation and make Argentina great again,” he added, echoing U.S. President Donald Trump’s motto.
This is a developing story. Please check back for updates.