Argentina’s monthly inflation continued to run near a four-year low in December, opening the door for President Javier Milei to make his first change to currency policy in more than a year.

The only slight acceleration from the 2.4% monthly inflation logged in November, which analysts attributed to typical seasonal price rises, was seen as good news by markets, who expect inflation to keep cooling in 2025. The December data "confirms the disinflation process is continuing," Economy Minister Luis Caputo said on X.

Argentina's central bank will slow the rate of the local peso's devaluation, it said on Tuesday, after new data showed annual inflation slowing in December and as the central bank sees continued progress on inflation.

Argentina’s central bank announced it will slow the pace of the peso’s controlled depreciation to 1% a month starting in February after fresh inflation data paved the way for the policy change.