I had a hunch that Argentina President Javier Milei's dramatic austerity project would make a dent in inflation. It's basic economics.

But I thought he would achieve that through extreme short-term pain. Now he's made a dent in poverty? I wonder what accounts for that. (And no, I don't support his libertarianism writ large, but in a country that mired in inflation, you do probably need a stubborn SOB neoliberal in power briefly to right the ship.) h/t the great @leefang 

Counter-argument seems to be that the stats, including the consumer price index, are misleading and incomplete.

https://apnews.com/article/argentina-economy-poverty-milei-austerity-inflation-061bbba174706475a255c6b871953009

Basic economics or misleading stats? The debate continues.

I don’t think basic economics dictates that tough inflation medicine, however positive and necessary, typically leads to a short-term reduction in poverty. But maybe the economy there was so messed up, a dose of certainty worked wonders.