100% Inflation in Argentina Opens the Door for a Presidential Upset

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An outsider candidate for Argentina’s presidency is gaining traction by tapping into voter anger at rampant inflation.

With no sign of relief in sight, Javier Milei, an economist-turned-congressman best known for his combative television appearances, senses an opening for his brand of rage-filled rhetoric. A Donald Trump acolyte with a reputation for political theatrics over policy specifics, pollsters say his challenge needs to be taken seriously going into October’s elections.

One reason is that Argentina’s deeply polarized political class is in crisis, with the ruling Peronist coalition and the main opposition each in disarray and still to identify a respective presidential candidate. But Milei’s real bonus is that neither of the established blocs, populist or pro-market, has been able to fix an economy lurching deeper into the abyss.

“Obviously, as inflation goes up, more people intend to vote for me,” Milei, 52, said in an interview in Buenos Aires in February.

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