Argentine President Javier Milei's dramatic austerity agenda has helped lower inflation, but the slowdown has come at the cost of consumption in a battered economy where more than half of the country has fallen into poverty.

Argentina’s inflation has slowed to 2.7% in October, the lowest level in three years in a win for the libertarian government of President Javier Milei

Argentina's central bank cut its benchmark interest rate to 35% in a surprise move on Friday, boosting local markets and signaling growing optimism by the government that it can tame the country's triple-digit inflation.