Argentina's Inflation Situation

Argentina's new president, Javier Millet, inherited an economy in turmoil with skyrocketing inflation rates. While the monthly inflation rates seem to have decreased since Millet took office, the yearly inflation still remains alarmingly high, nearing 300 percent. Millet's drastic economic policies, including removing price controls and government subsidies, initially caused inflation to spike before a slight decrease. However, the falling inflation rate may also be attributed to the severe poverty plaguing the country, affecting consumer purchasing power and economic stability.