Argentina’s monthly inflation rate in May was the lowest since 2022 due to President Javier Milei’s strict austerity measures.

However, many Argentines still struggle to benefit from the low annual inflation due to rising food, utility, and transportation prices.

The country has the highest annual inflation rate in the world.

The government’s strict measures, such as cutting spending and reducing central bank money issuance, have helped control inflation.

May is expected to see a fifth consecutive month of lower monthly inflation, likely to be less than 5%.