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.

Argentina’s economy is rebounding fast. Inflation has plummeted, growth is back, and poverty is falling. Javier Milei’s shock reforms are delivering what few thought possible.

President’s economic team sends a signal to the market that it still has an iron grip on Argentina’s money supply, a key ingredient to thwarting inflation, stabilising the peso – and his high approval ratings.

Argentina's National Institute of Statistics and Census (Indec) reported on Monday that inflation in June was 1.6%, marking the second-lowest monthly figure of the year. This brings the cumulative inflation for the first six months of 2025 to 15.

President Javier Milei, who has slashed public spending by 30% since taking office in 2023, vowed to veto the legislation.

The Argentine president faced a rebellion from allied governors and legislators, exposing the limits of his strategy of constant confrontation

Argentine President Javier Milei and his vice-president, Victoria Villarruel, have engaged in a bitter public war of words over plans to increase pensions. Milei shared posts on X in which his running mate had been called "stupid" and described as "a traitor", and in response Villarruel told the president to "grow up".

Monthly inflation in Argentina inched slightly higher in June, but remained among the lowest in years, a boost to budget-slashing President Javier Milei's efforts to curb runaway prices.