Inflation in Argentina has slowed for the fourth consecutive month, despite an annual rate nearing 300%. The monthly inflation rate rose by 8.8% in April, down from 11% in March. This is seen as a victory for Javier Milei; when he became president in December, monthly inflation was over 25%. His administration has implemented strict austerity measures to stabilise the economy, including slashing public spending, cutting 50,000 public jobs, suspending new public works contracts, and removing fuel and transport subsidies. These measures have been praised by investors and the International Monetary Fund (IMF), which announced an $800 million loan for Argentina. However, some experts argue that the falling inflation is due to a significant decline in private spending, as the poor and working classes are severely impacted. Poverty levels are nearing 50%, with a drop in economic activity and consumption. Critics say Milei's policies have disproportionately affected vulnerable populations. Despite decreasing inflation, Argentina's GDP is expected to shrink by 2.8% this year, indicating a painful recession.