People buy groceries at a supermarket in Buenos Aires.
Inflation in Argentina continued its upward monthly trend in December but ended 2025 at the lowest annual rate in eight years, the INDEC statistics agency reported.
The year-over-year inflation rate last month was 31.5 percent, the lowest December level since 2017, when it stood at 24.8 percent, INDEC said.
However, prices rose 2.8 percent from the previous month, driven by transport, housing, utilities and fuel costs, continuing an upward trend that started in June.
Curbing Argentina's infamous inflation is a key objective of President Javier Milei, who took office in December 2023 with promises to revive the economy by slashing public spending.
In 2024, Argentina recorded its first budget surplus in a decade thanks to austerity cuts, but the collateral damage was a loss of purchasing power, jobs, and consumer spending.
Milei devalued the Argentine peso by more than 50 percent, cut spending and froze budgets, driving annual inflation down from 211.4 percent in December 2023 to 117.8 percent in December 2024.
"The stabilization program based on a fiscal surplus, strict control of the money supply, and strengthening the Central Bank will continue to be the pillars of the disinflation process," Economy Minister Luis Caputo wrote on X, where he hailed an "extraordinary achievement."
