June 13, 2024 5:28 PM

‘Eating is a luxury’: Argentina inflation falls but shoppers still feel squeezed

Argentina's monthly inflation rate in May was likely the lowest since 2022 amid a tough austerity drive by libertarian President Javier Milei, but with annual inflation still near 300% many Argentines say they can't yet feel the benefit as food prices outstrip salaries. Annual inflation is still the highest in the world, even as the monthly rate has slowed, with rising food, utilities, and transportation costs making the minimum monthly wage in Argentina of 234,315 pesos ($260) feel insufficien...