{"id":518,"date":"2026-05-21T16:05:44","date_gmt":"2026-05-21T16:05:44","guid":{"rendered":"https:\/\/redzine.co.uk\/index.php\/2026\/05\/21\/why-javier-mileis-inflation-miracle-in-argentina-is-more-of-a-mirage\/"},"modified":"2026-05-21T16:05:44","modified_gmt":"2026-05-21T16:05:44","slug":"why-javier-mileis-inflation-miracle-in-argentina-is-more-of-a-mirage","status":"publish","type":"post","link":"https:\/\/redzine.co.uk\/index.php\/2026\/05\/21\/why-javier-mileis-inflation-miracle-in-argentina-is-more-of-a-mirage\/","title":{"rendered":"Why Javier Milei\u2019s inflation \u2018miracle\u2019 in Argentina is more of a mirage"},"content":{"rendered":"
\n<\/div>\n<\/p>\n

When Javier Milei took over as president of Argentina in December 2023, monthly inflation was 25.5%. The annual rate for that year was 211%. Now it has plummeted. <\/p>\n

Milei<\/a>, a rightwing populist famous for wielding a chainsaw on stage to make a point about fiscal conservatism, made cutting inflation a central part of his campaign. <\/p>\n

The latest figures put monthly inflation in April<\/a> at 2.6%, and 32% for the year. While this is still very high and behind only Venezuela, South Sudan and Iran<\/a>, it\u2019s well below the runaway hyperinflation of a few years ago. <\/p>\n

Although the decrease has stalled somewhat in recent months, Milei continues to boast of his ability to keep price increases down \u2013 and insists his goal is still 0% inflation<\/a>. He\u2019s won conservative admirers<\/a> around the world who see his policies as a blueprint for cutting inflation<\/a>. <\/p>\n

And yet economists like Can Cinar warn that Milei\u2019s battle against inflation is more of a mirage than a miracle. <\/p>\n

\u201cOn paper, it looks quite good,\u201d Cinar says on the latest episode of The Conversation Weekly<\/a> podcast, \u201cbut the bigger picture is that the economy is being undermined. It\u2019s being hollowed out.\u201d <\/p>\n

Cinar, who recently wrote a book about populism and economics in Argentina<\/a>, explains how Milei\u2019s government managed to cut inflation by deliberately suppressing people\u2019s wages, and the stark impact these policies are having on Argentinians. <\/p>\n

Listen to the interview with Can Cinar, an honorary visiting researcher at City St George\u2019s, University of London, on The Conversation Weekly<\/a> podcast, or read an article he wrote about why Argentina\u2019s inflation \u201cmiracle\u201d is a warning to the world, not a blueprint<\/a>. <\/p>\n

This episode of The Conversation Weekly was written and produced by Mend Mariwany and the executive producer was Gemma Ware. Mixing by Eleanor Brezzi and theme music by Neeta Sarl.<\/em><\/p>\n

Newsclips in this episode from Neura Media<\/a> and NBC News<\/a>.<\/em><\/p>\n

Listen to The Conversation Weekly via any of the apps listed above, download it directly via our RSS feed<\/a> or find out how else to listen here<\/a>. A transcript of this episode is available via the Apple Podcasts or Spotify apps.<\/em><\/p>\n

\"The<\/p>\n

Can Cinar is also affiliated to SKEMA Business School in France. <\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

When Javier Milei took over as president of Argentina in December 2023, monthly inflation was 25.5%. The annual rate for that year was 211%. Now it has plummeted. Milei, a rightwing populist famous for wielding a chainsaw on stage to make a point about fiscal conservatism, made cutting inflation a central part of his campaign. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-518","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/redzine.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/redzine.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/redzine.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/redzine.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/redzine.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=518"}],"version-history":[{"count":0,"href":"https:\/\/redzine.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/518\/revisions"}],"wp:attachment":[{"href":"https:\/\/redzine.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/redzine.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/redzine.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}