BUENOS AIRES, Argentina (AP) — Argentina’s inflation slowed for the second straight month in May, economic data released Thursday showed, providing some welcome news for President Javier Milei after almost a year of stubbornly persistent price increases that threatened to undermine the libertarian leader’s signature achievement.Consumer prices rose 2.1% last month compared with April, the government statistics agency INDEC reported — a rate hailed by Economy Minister Luis Caputo as the lowest monthly level in eight months. But annual inflation rose marginally to 33.2% this May because monthly inflation in May 2025 hit a seven-year low of 1.5%. Since then, prices have climbed and stayed high, squeezing households and fueling public frustration with Milei’s government as it grapples with a series of corruption scandals and struggles to respond to a slump in economic activity across the labor-intensive sectors of retail and manufacturing.
Last month, communications networks saw the biggest price increases with 3.4% on higher phone and internet bills, followed by education costs. Food prices accelerated by 2.5%.
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