Argentina's central bank will slow the rate of the local peso's devaluation, it said on Tuesday, after new data showed annual inflation slowing in December and as the central bank sees continued progress on inflation.

Javier Milei's first year in office shows a major victory against inflation in Argentina, but at the expense of a deep recession.

Argentina’s monthly inflation continued to run near a four-year low in December, opening the door for President Javier Milei to make his first change to currency policy in more than a year.

Argentina's monthly inflation ticked up a tad in December, data showed on Tuesday, though the annual rate slowed further as libertarian President Javier Milei pushed tough spending cuts and austerity measures.

Facing a financial crisis, Argentina concluded the year 2024 with inflation at nearly 118 percent, significantly lower than the previous year, according to official data. The government expressed satisfaction,

The consumer price index (CPI) in Argentina stood at 117.8% year-on-year in December, its eighth consecutive slowdown, after registering a year-on-year variation of 166% last month, the National Institute of Statistics and Censuses (Indec) reported on Tuesday.