Milei, and Argentina's slow-but-steady rehabilitation

Headline:

Javier Milei Leads Argentina to a Week With No Food Inflation for First Time in 30 Years
It takes time. Normal people know transformation doesn’t happen overnight.

Long live f*&%ing freedom!! That’s what Argentine President Javier Milei loves to say!

For 30 years, Argentines faced rising food prices every week.

Every week for 30 years.

Well, the libertarian free-market economist President Javier Milei has steered Argentina in the correct direction because, for the first time in 30 years, the country did not experience food inflation.

You mean to tell me that when the government goes away[,] the market finds a way to balance itself?

As a libertarian, I AM SHOOK.

Zero inflation last week.

Inflation 0.1% the last fortnight.

Argentine inflation as a whole has gone down this year from 292% to 276% in May.

It doesn’t seem like a lot[,] and the number is still high, but normal people know transformations don’t happen overnight.

However, the monthly inflation rate went down 4.2% from 8.8% in April.

What was it in December when Milei took office? 25%:

Thursday’s inflation data is likely to fuel bets that Argentina’s central bank will continue cutting the country’s benchmark interest rate. The monetary authority has brought the rate down from 133% in December to the still steep rate of 40%. Argentina’s government has touted its success taming inflation with tough measures to reduce central bank money printing, focus on rebuilding reserves and cut spending. Markets cheered Thursday after the Senate passed a sprawling reform package overnight that is key to President Milei’s economic agenda, with Argentina’s bonds and beleaguered currency rallying.

Milei is obviously on the correct path. He is also the first Argentine president not to pass a new law in his first six months in office.