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this post was submitted on 14 Mar 2024
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This is the best summary I could come up with:
BUENOS AIRES, Argentina (AP) — Argentina’s inflation slowed in February for a second consecutive month, as right-wing President Javier Milei continues to push austerity and deregulation measures in an effort to revive the country’s struggling economy.
According to figures released Tuesday by the government’s INDEC statistics agency, Argentina’s monthly inflation slowed down to 13.2% in February, compared to 20.6% in January and 25.5% in December.
On a yearly basis, however, inflation remains the highest in three decades, topping 276.2% in February.
Milei’s government said in a statement that February’s inflation rate was the result of a “strong fiscal discipline.”
A self-described anarcho-capitalist, Milei assumed power in December and almost immediately announced a series of shock measures, including a 50% devaluation of the nation’s currency in hopes of eventually bringing the country’s roaring inflation under control.
Milei has announced a painful adjustment plan aimed at staving off hyperinflation and warned that the measures would initially have a “negative impact on the level of activity, employment, real wages, and the number of poor and indigent people.”
The original article contains 242 words, the summary contains 174 words. Saved 28%. I'm a bot and I'm open source!