World
Argentina reports its first single-digit inflation in 6 months as markets swoon and costs hit home
Argentina’s monthly inflation rate eased sharply to a single-digit rate in April for the first time in half a year, data released Tuesday showed, a closely watched indicator that bolsters President Javier Milei’s severe austerity program aimed at fixing the country’s troubled economy.
Prices rose at a rate of 8.8% last month, the Argentine government statistics agency reported, down from a monthly rate of 11% in March and well below a peak of 25% last December, when Milei became president with a mission to combat Argentina’s dizzying inflation, among the highest in the world.
ARGENTINA WILL GET NEXT INSTALLMENT OF BAILOUT AS IMF PRAISES MILEI’S AUSTERITY POLICIES
“Inflation is being pulverized,” Manuel Adorni, the presidential spokesperson, posted on social media platform X after the announcement. “Its death certificate is being signed.”
Although praised by the International Monetary Fund and cheered by market watchers, Milei’s cost-cutting and deregulation campaign has, at least in the short term, squeezed families whose money has plummeted in value while the cost of nearly everything has skyrocketed. Annual inflation, the statistics agency reported Tuesday, climbed slightly to 289.4%.
“People are in pain,” said 23-year-old Augustin Perez, a supermarket worker in the suburbs of Buenos Aires who said his rent had soared by 90% since Milei deregulated the real estate market and his electricity bill had nearly tripled since the government slashed subsidies. “They say things are getting better, but how? I don’t understand.”
A vendor waits for customers at the central market for fruit and vegetables in Buenos Aires, Argentina, Friday, May 10, 2024. (AP Photo/Natacha Pisarenko)
Milei’s social media feed in recent weeks has become a stream of good economic news: Argentine bonds posting some of the best gains among emerging markets, officials celebrating its first quarterly surplus since 2008 and the IMF announcing Monday it would release another $800 million loan — a symbolic vote of confidence in Milei’s overhaul.
“The important thing is to score goals now,” Milei said at an event Tuesday honoring former President Carlos Menem, a divisive figure whose success driving hyperinflation down to single digits through free-market policies Milei repeatedly references. “We are beating inflation.”
Even so, some experts warn that falling inflation isn’t necessarily an economic victory — rather the symptom of a painful recession. The IMF expects Argentina’s gross domestic product to shrink by 2.8% this year.
“You’ve had a massive collapse in private spending, which explains why consumption has dropped dramatically and why inflation is also falling,” said Monica de Bolle, a senior fellow at the Peterson Institute for International Economics who studies emerging markets. “People are worse off than they were before. That leads them to spend less.”
Signs of an economic slowdown are everywhere in Buenos Aires — the lines snaking outside discounted groceries, the empty seats in the city’s typically booming restaurants, the growing strikes and protests.
At an open-air market in the capital’s Liniers neighborhood, Lidia Pacheco makes a beeline for the garbage dump. Several times a week, the 45-year-old mother of four rummages through the pungent pile to salvage the tomatoes with the least mold.
“This place saves me,” Pacheco said. Sky-high prices have forced her to stick to worn-out clothes and shoes and change her diet to the point of giving up yerba mate, Argentina’s ubiquitous national drink brewed from bitter leaves. “Whatever I earn from selling clothes goes to eating,” she said.
Argentina’s retail sales in the first quarter of 2024 fell nearly 20% compared to the year before, a clip comparable to that of the 2020 pandemic lockdowns. The consumption of beef — an Argentine classic — dropped to its lowest level in three decades this quarter, the government reported, prompting panicked editorials about a crisis in Argentina’s national psyche.
“Now I buy pork and chicken instead,” said Leonardo Buono, 51-year-old hospital worker. “It’s an intense shock, this economic adjustment.”
Milei, a self-proclaimed “anarcho-capitalist” and former TV personality, warned his policies would hurt at first.
He campaigned brandishing a chainsaw to symbolize all the cutting he would do to Argentina’s bloated state, a dramatic change from successive left-leaning Peronist governments that ran vast budget deficits financed by printing money.
Promising the pain would pay off, he slashed spending on everything from construction and cultural centers to education and energy subsidies, from soup kitchens and social programs to pensions and public companies. He has also devalued the Argentine peso by 54%, helping close the chasm between the peso’s official and black-market exchange rates but also fueling inflation.
Inflation in the first four months of 2024 surged by 65%, the government statistics agency reported Tuesday. Prices in shops and restaurants have reached levels similar to those in the U.S. and Europe.
But Argentine wages have remained stagnant or declined, with the monthly minimum wage for regulated workers just $264 as of this month, with workers in the informal economy often paid less.
Today that sum can buy scarcely more than a few nice meals at Don Julio, a famous Buenos Aires steakhouse. Nearly 60% of the country’s 46 million people now live in poverty, a 20-year high, according to a study in January by Argentina’s Catholic University.
Even as discontent appears to rise, the president’s approval ratings have remained high, around 50%, according to a survey this month by Argentine consulting firm Circuitos — possibly a result of Milei’s success blaming his predecessors for the crisis.
“It’s not his fault, it’s the Peronists who ruined the country, and Milei is trying to do his best,” said Rainer Silva, a Venezuelan taxi driver who fled his own country’s economic collapse for Argentina five years ago. “He’s like Trump, everyone’s against him.”
Argentina’s powerful trade unions and leftist political parties have pushed back against Milei with weekly street protests, but haven’t managed to galvanize a broad swath of society.
That could change — last week, a massive protest against budget cuts to public universities visibly hit a nerve, drawing hundreds of thousands of people.
“The current situation is completely unsustainable,” said de Bolle, the economy expert.
As Israel’s war on Lebanon rages, hundreds gather in Rmeileh by Sidon Gate to watch the 2026 World Cup. Organised by influencer Bilal Haddad, the fan zone offers food trucks, shisha and family activities, giving people a rare chance to relax. Al Jazeera’s Justin Salhani went to check it out.
Published On 20 Jun 2026
WASHINGTON (AP) — Mark Schiefelbein has been based in Washington, D.C., with AP for about three years, and before that spent a decade in Beijing at AP’s China bureau.
Here’s what he had to say about this extraordinary photo.
Why this photo?
This was an event that had never happened before in the 250-year history of the United States and may never happen again: a night of mixed martial-arts cage match brawls on the South Lawn of the White House, with bloodied competitors battling it out in front of the president, vice president, and other leaders of the country. AP had other photographers ringside at the event focusing more on the fights themselves. So I felt my role was to capture the context of the evening — the location, the people in attendance, the environment.
How I made this photo
A small group of other photographers and I, the White House press pool, had been allowed to photograph part of the evening from a position in the stands directly opposite the White House. I was carrying four cameras with a variety of lenses from 12 mm to 300 mm. This let me capture everything from ultra-wide views of the “claw” structure built for the fights, to close-ups of leaders and celebrities in attendance. I had been following Diego Lopes with my longest lens as he moved around the ring celebrating his win over Steve Garcia. When I saw him start to climb onto the cage, I immediately realized there might be a possibility of a picture like this and zoomed out to capture more of the scene.
An octagon on the White House lawn for Trump’s 80th birthday and the nation’s 250th, in photos
Why this photo works
The White House is surely one of the most recognizable buildings in the world. The columns of the South Portico, the fighter standing with arms and legs spread wide in celebration, and the octagon padding of the UFC ring tell an entire story as your eyes move from top to bottom of the frame. With Lopes standing with his back to the camera, facing the White House, it becomes less a photo of him and more about the evening, the event, and the spectacle. It was fortunate that it was after nightfall, so things that might have been distracting, like the Marine Band and spectators seated behind the ring, are mostly in the dark. Only the key elements – the White House, Lopes, and the ring are lit up.
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For more extraordinary AP photography, click here.
World
British Prime Minister Keir Starmer faces potential leadership challenge from newly-elected Andy Burnham
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Andy Burnham has officially won his special election and regained a seat in Parliament, setting him up to challenge the deeply unpopular Keir Starmer as the leader of the Labour party and as prime minister.
Burnham, currently the mayor of Greater Manchester in northwest England, won a seat in Makerfield and came away with 55% of the vote in a field of more than a dozen candidates, according to The Associated Press. The runner-up was Rob Kenyon of Reform UK, a right-wing populist party, who received more than 9,000 fewer votes than Burnham.
Burnham last served as a member of Parliament in 2017 but strongly implied in his victory speech that he is returning with the intention to lead the United Kingdom.
“Everyone knows that politics isn’t working. Everyone can feel that the country isn’t where it should be. Tonight could, just could, be the turning point,” he said, according to the AP. “This result will bring about a country that works fairly for everywhere and for everybody.”
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Britain’s Labour party candidate Andy Burnham speaks to supporters after the Makerfield by-election in Ashton in Makerfield, England, on Friday, June 19, 2026. (Jon Super/AP)
This special election, called by-elections in Britain, was unusually significant because the area’s Labour MP, Josh Simons, intentionally resigned to allow Burnham to win the seat and pursue leadership.
The potentially outsized impact of this election was juxtaposed with the strange scene that unfolded when all the candidates gathered on Friday morning to hear the results. Burnham stood in between an independent candidate dressed in a fox costume and another candidate known as “Count Binface”.
As his name suggests, “Count Binface,” whose real name is Jonathan David Harvey, was wearing a trash can on his head and regularly runs in U.K. elections to advocate for increased voter turnout.
Starmer congratulated Burnham in a social media post on X, saying voters “chose Labour’s campaign of hope and optimism over division and hate.”
When asked about Burnham’s intentions to oust him as leader, Starmer said he will fight to remain prime minister, a position he has held for nearly two years.
“I’ve said repeatedly I’m not going to walk away from that,” Starmer told reporters.
Labour party candidate Andy Burnham, center, stands with other candidates on the podium at the Edge Wigan, awaiting the Makerfield by-election result announcement in Wigan, England, on Friday, June 19, 2026. (Jon Super/AP)
AS EPSTEIN-LINKED APPOINTMENT SPARKS BACKLASH, UK PM STARMER FACES PARTY REVOLT AMID RESIGNATION CALLS
Starmer led the Labour party to a landslide victory in July 2024 and ever since, his popularity has been eroding thanks to a persistently high cost of living, an anemic economy and a scandal over his willingness to accept gifts from wealthy donors.
Last September, Starmer was slammed for appointing Peter Mandelson as the British ambassador to the United States, when it was known as early as 2019 that Mandelson had a friendship with convicted child sex offender Jeffrey Epstein. Following an enormous public backlash, Mandelson was quickly dismissed from his post.
With Starmer as leader, Labour is increasingly losing liberal-minded voters to the Green Party, while also facing stronger challenges by Reform UK, a Nigel Farage-led party that advocates against mass migration and in favor of tighter border controls. Farage, an ally of U.S. President Donald Trump, said he was disappointed by Burnham’s victory.
Burnham is expected to head to London to be sworn in as soon as Monday. Under the British parliamentary system, the governing party can hold leadership elections in the middle of the term. The winner of such a contest can become prime minister without there having to be a national election.
British Prime Minister Keir Starmer awaits Switzerland’s Federal President Guy Parmelin on the sidelines of the G7 summit, in Evian-les-Bains, France, on Tuesday, June 16, 2026 (Isabel Infantes/Pool Reuters via AP)
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Under Labour rules, a lawmaker can challenge the leader if they win the backing of a fifth of their party’s members in the House of Commons. Burnham has enough lawmakers on board to trigger a leadership contest, according to a report from The New Statesman.
According to the AP, Culture Secretary Lisa Nandy said Burnham and Starmer will “have a conversation about what comes next” in the next few days.
The Associated Press contributed to this report.
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