Argentina’s national statistics agency INDEC said consumer prices rose 1.6% in June from the previous month, edging up from May’s 1.5% reading but coming in below the roughly 1.9% expected by private economists surveyed by Reuters. The figure extends the sharp slowdown from the 25.5% monthly jump recorded when President Javier Milei took office in December 2023. June’s result left inflation 39.4% higher than a year earlier, the lowest 12-month pace since January 2021, and lifted the cumulative increase for the first half of 2025 to 15.1%. Core inflation was 1.7%, its weakest level since May 2020—or since January 2018 when pandemic-distorted months are excluded—while prices of goods advanced 0.8% and food and non-alcoholic beverages only 0.6%. Milei and Economy Minister Luis Caputo hailed the data as proof that the administration’s fiscal tightening and monetary restraint are working. Economists note that June marks 14 straight months of year-on-year disinflation, though they caution that regulated-price adjustments and commodity costs could still challenge the government’s target of ending 2025 with inflation near 23%.