Argentina’s Inflation Ticked Up Slightly, Less Than Expected

Argentina inflation ticked up slightly and less than expected in June, another win for President Javier Milei ahead of midterm elections after a large seasonal component pulled May’s reading down to a five-year low.

Consumer prices rose 1.6% last month from May, less than the 1.9% median estimate of economists surveyed by Bloomberg. Annual inflation slowed to 39.4%, according to government data published Monday. May’s 1.5% print was the lowest since May 2020.