Argentina's Inflation Rate Slows to 27640% in May

Monthly Rate Declines as Prices Rise 88%

Buenos Aires, March 12 (Reuters) - Argentina's monthly inflation rate slowed down more than expected to come in at 13.2% in February, a boost for the government's efforts to tame price increases.

The latest figures released by the Argentine government's statistics agency showed prices rose at an annualized rate of 276.40% in May, down from 292.20% in April. The monthly inflation rate came in at 8.8%, a significant drop from the 11% rate seen in April.

Argentina's economy has been plagued by high inflation in recent years, with the country experiencing triple-digit inflation rates since 2018. The government has implemented several measures to curb inflation, including raising interest rates and tightening fiscal policy.

The latest figures suggest that these measures are starting to have an impact, with the monthly inflation rate slowing for two consecutive months. However, it remains to be seen whether the government can sustain this trend and bring inflation down to a more manageable level.

For now, the high inflation rate continues to impact the lives of Argentines, making it difficult for people to afford basic necessities and plan for the future. The government has pledged to continue its efforts to tame inflation, but it remains to be seen whether it can succeed in the face of such high inflation.