Argentina Inflation Slows Under Milei Austerity Measures But Remains Extremely High

• Argentina's inflation slowed to 13.2% in February, down from 20.6% in January and 25.5% in December • But inflation remains extremely high on a yearly basis at over 276% • The drop is attributed to fiscal discipline and austerity measures under new right-wing President Javier Milei • Milei has cut subsidies and devalued the currency in an effort to control inflation • Poverty is around 40% and Milei's policies are expected to initially have a negative economic impact