Javier Milei renounces shock therapy to contain inflation in Argentina

President Javier Milei Argentina’s president is putting the brakes on his shock therapy program in a bid to retain popular support in a difficult economic climate, even if it means disrupting markets.

This month, the Libertarian leader postponed increases in fuel taxes and utility prices that together would have added 1.2 percentage points to monthly inflation, according to JPMorgan Chase & Co. Heavily subsidized train fares have been frozen since May, and bus fares have not budged since April.