Thanks to Milei, Argentina is no longer among the five countries with the highest inflation in the world.

In June of this year, thanks to the successful economic policy of the Government of Javier Milei, Argentina recorded a year-on-year inflation rate of 39.4%, according to official data released by the National Institute of Statistics and Censuses (Indec).

This percentage represents a drastic decrease compared to the levels reached in 2023 and the first months of 2024, as a result of the severe economic crisis inherited from Kirchnerism. This decline allowed the country to leave the group of nations with the highest inflation rates on the planet.

According to an international report prepared by Infobae, based on official statistics from each country, Argentina is currently ranked sixth in the global ranking, behind Venezuela (172%), Sudan (113%), Zimbabwe (92.5%), Palestine (51.4%), and Burundi (45.5%).

Meanwhile, estimates from the International Monetary Fund (IMF) project that, by the end of 2025, inflation in Argentina will be 35.9%. If this forecast materializes, the country would drop to eighth place among the economies with the highest inflation, sharing that position with Türkiye.

The downward trend in inflation began to become clear starting in the second quarter of 2024. Indec's records show that the year-on-year Consumer Price Index (CPI) went from a peak of 263.4% in July 2023 to 39.4% in June, showing a sustained and uninterrupted reduction.

The ranking of countries with the highest inflation

According to Infobae's survey, Venezuela continues to top the global inflation list. Although it technically exited hyperinflation in 2021, the Caribbean country still faces a highly uncontrolled price situation. With a year-on-year rate of 172% in June and a projected year-end rate of 180%, Venezuela's economy remains the most volatile in the world in terms of inflation.

Outside the American continent, two countries stand out for their alarming inflation levels: Sudan and Zimbabwe. In Sudan's case, the country is experiencing an internal armed conflict that has completely destroyed its economic structure.

The year-on-year inflation rate stands at 113%, and projections from the International Monetary Fund (IMF) indicate that it could end 2025 with a price increase of 100%. The lack of a stable monetary policy amid a civil war, along with the collapse of fiscal revenues and the destruction of essential infrastructure, has created a context of persistent hyperinflation.

Meanwhile, Zimbabwe recorded a year-on-year inflation rate of 92.5% in June, and it is expected that the year will end with a similar rate of 92.2%. Despite having adopted various measures to stabilize its economy, the memory of the 2008-2009 hyperinflation, when banknotes of up to 100 trillion Zimbabwean dollars were issued, continues to influence its economy.

Meanwhile, according to IMF projections, Argentina could end 2025 with an annual inflation rate of 35.9%, which would mark a significant drop compared to previous years.