BUENOS AIRES, 11, 2026 (BSS/AFP) - Inflation in Argentina fell to its lowest level in 14 months in August, boosting President Javier Milei as he battles flagging ratings and growing concern over unemployment.

Monthly inflation in August stood at 1.7 percent, down from 2.1 percent in July, according to the National Institute of Statistics and Censuses (INDEC).

Accumulated inflation since January stood at 21.3 percent and 33.5 percent over the past twelve months.

Milei, an economist with a radical free-market agenda to overhaul Argentina's ailing economy, won election in December 2023 on a mandate to drive down chronically high inflation.

At the time of his election, inflation ran to three digits, and Milei shrank it with a program of biting austerity and strict fiscal discipline.

His successes on taming inflation and erasing the budget deficit have, however, begun to lose luster in the face of weak growth, falling manufacturing output and the loss of over 240,000 formal private sector jobs on the president's watch.

Polls show that unemployment now tops inflation as a top concern in Argentina.

Industry leaders say Milei's decision to dismantle decades of protectionist policies in one fell swoop left Argentine manufacturing unfairly exposed to global competition.

Nearly 30,000 companies have closed down in the past three years.

The central bank has lowered its growth forecast for 2026 from 2.7 percent to 2.1 percent, far below the 5-percent figure the government had projected in its budget.