Argentina's monthly inflation rate dropped to 2.2% in January, its lowest since mid-2020 after libertarian President Javier Milei took office just over a year ago ushering in austerity measures that have helped stabilize the embattled economy.

President Javier Milei has overseen a major crackdown on government spending, leading to a remarkable fall in inflation after years of economic instability.

Argentina recorded a monthly inflation rate of 2.2 percent in January, the lowest in 4.5 years, the INDEC national statistics agency said Thursday, in a boost for budget-slashing President Javier