National Institute of Statistics and Census of Argentina

Argentina's monthly inflation slowed slightly in January, but the prices of key goods and services rose 254 percent year-on-year.

President Javier Milei had warned that the country's battle with inflation was far from over when he took office in December, riding a wave of fury over decades of economic mismanagement.

Inflation has been a problem across the world but Argentina is second in a World Bank ranking of countries with the highest food inflation, at 107 percent over the last year.

It's topped only by Lebanon, with a whopping 352 percent.

Photo: Ricardo Mazalan / Associated Press

BUENOS AIRES, Argentina - Amid an economy heavily slowed by a drop in industrial production, rising inflation and a rise in poverty, Argentina has now seen another increase in joblessness as President Mauricio Macri's economic plans continue to sputter.