President Javier Milei closed the AmCham Summit 2026 defending fiscal and monetary adjustment amid March's 3.4% inflation. He attributed the rise to transitory factors like last year's shocks and promised that 'inflation is going to collapse'. He firmly rejected accepting more inflation to boost growth, calling it 'trash'.
President Javier Milei focused his speech at the AmCham Summit 2026 on the latest 3.4% inflation figure reported by INDEC. "Since I hate inflation and I didn't like the figure, I'm going to talk about inflation," the president stated, explaining it stems from a 50% drop in money demand equivalent to M2 aggregate in the second half of 2025, along with enormous shocks.
Milei detailed specific factors such as education increases, international conflicts, transport hikes, seasonality, and meat prices. He downplayed the figure noting underlying inflation at 2.5%, food basic basket at 2.2%, and wholesale between 0.8% and 1%. "The long-term equilibrium hasn't changed. This is a readjustment of relative prices," he maintained.
He highlighted positive signs like recovering money demand, with the Central Bank purchasing nearly US$6,000 million in foreign currency this year and interest rates at 23%-25%. "Activity has started to rebound, we are at record GDP, consumption, and exports," he stated, calling for patience to consolidate disinflation.
Milei targeted economists and the 'red circle' suggesting policy easing: "Accepting more inflation to grow is trash." He ratified that "the chainsaw doesn't stop" and will continue public spending adjustment, restrictive monetary policy, and deregulation. The event featured businessmen, officials, and governors; in the front row were Cabinet Chief Manuel Adorni and Karina Milei.
