BUENOS AIRES ¨C Argentina¡¯s monthly inflation rate slowed to 2.4% in November, the lowest in over four years, the official INDEC statistics agency said on Wednesday, as locals began to warily hope the worst of a biting economic crisis might be over.
The South American nation, facing a tough austerity drive by libertarian President Javier Milei, saw the monthly figure come in well below forecasts of 2.8% and lower than 2.7% a month earlier. Annualized 12-month inflation slowed to 166% from 193%.
¡°My sense is that we¡¯ve already passed the worst. It seems to me the economy hit bottom two months ago,¡± said textile merchant Aram Boyaciyan, adding middle and working-class clients with steady jobs appeared to be ¡°recovering purchasing power.¡±
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