BUENOS AIRES (Reuters) -Argentine monthly inflation ticked up slightly in December, data showed on Tuesday, though the annual rate continued to slow amid tough austerity measures and spending cuts being pushed by libertarian President Javier Milei.

Argentina's annual inflation rate fell to 117.8 percent in 2024, marking a significant drop of 93.6 points compared to the record 211.4 percent inflation

Annual inflation nosedives in boost for Milei; Prices rose 2.7% last month, reports INDEC; Bureau’s data shows inflation fell almost 94 points year-on-year.

Argentina's monthly inflation ticked up a tad in December, data showed on Tuesday, though the annual rate slowed further as libertarian President Javier Milei pushed tough spending cuts and austerity measures.

Javier Milei's first year in office shows a major victory against inflation in Argentina, but at the expense of a deep recession.

Argentina's central bank will slow the rate of the local peso's devaluation, it said on Tuesday, after new data showed annual inflation slowing in December and as the central bank sees continued progress on inflation.

Argentina’s monthly inflation continued to run near a four-year low in December, opening the door for President Javier Milei to make his first change to currency policy in more than a year.

Facing a financial crisis, Argentina concluded the year 2024 with inflation at nearly 118 percent, significantly lower than the previous year, according to official data. The government expressed satisfaction,