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Javier Milei’s inflation ‘miracle’ in Argentina is a warning to the world, not a blueprint

By Can Cinar, Honorary Visiting Researcher, City St George's, University of London

On paper, the numbers look astonishing. The annual rate of inflation in Argentina has plummeted from 211% in 2023 to 31.5% by the end of 2025.

President Javier Milei is taking plenty of credit for the drop. And he spent some time on Wall Street last month, pitching his “chainsaw” approach to public spending as a triumph against inflation.

But as a political economist who has tracked the cyclical…

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