Javier Milei waves a chainsaw during a campaign rally in San Martin, Buenos Aires province, Argentina in September 2023. Photo: LUIS ROBAYO / AFPSource: AFP Argentina recorded a monthly inflation rate of 2.2 percent in January, the lowest in 4.5 years, the INDEC national statistics agency said Thursday, in a boost for budget-slashing President Javier Milei. Inflation, the perennial bugbear of South America’s second-biggest economy, was down from 2.7 percent in December, it said, and January was the fourth straight month in which prices rose by less than 3 percent. Year-on-year, January inflation came in at 84.5 percent, said the INDEC — the first time in two years it was under 100 percent, but still one of the highest in the world. By the end of 2024 inflation was at
Tag Archives: Economy
Feb
U.S. applications for unemployment benefits fell last week as employers continue to retain workers despite resurgent inflation and elevated interest rates. The number of Americans filing for jobless benefits fell by 7,000 to 213,000 for the week ending February 8, the Labor Department said Thursday. Analysts projected that 215,000 new applications would be filed. Weekly applications for jobless benefits are considered representative of layoffs. The four-week average, which smooths out some of the week-to-week volatility, inched down by 1,000 to 216,000. Despite showing some signs of weakening during the past year, the labor market remains healthy with plentiful jobs and relatively few layoffs. Last week, the Labor Department reported that U.S. employers added 143,000 jobs in January, significantly fewer than December’s 256,000 job gains. However, the unemployment rate ticked down