Argentina’s Milei marks one year in office. Here's how his shock measures are reshaping the economy

abcnews.go.com:

When libertarian President Javier Milei assumed office one year ago, Argentine supermarkets were marking price increases almost daily

BUENOS AIRES, Argentina — When libertarian President Javier Milei assumed office one year ago, Argentine supermarkets were marking price increases on an almost daily basis. Middle-class families tried to spend their rapidly depreciating pesos as quickly as they got them, and economists warned the country was teetering on the brink of hyperinflation.

It was popular outrage over this upside-down economy that fueled the rise of Milei, a self-declared “anarcho-capitalist” and former TV pundit who rode to power on vows to “blow up” the central bank, take an axe to the bloated government and kill sky-high inflation.

It was an almost impossible job, and Milei's lack of government experience, unkempt hairdo, sexual boasts and missionary-like zeal for his dead dog, the Rolling Stones and the free market didn't inspire much confidence in a country with a history of failed economic reforms.

“It wasn’t a given that he could govern Argentina when he took office,” said Marcelo J. García, Americas director at geopolitical risk firm Horizon Engage. «He was Mr. Nobody.»

On taking power, Milei implemented a series of austerity measures, including slashing energy and transportation subsidies, laying off tens of thousands of government workers, freezing public infrastructure projects and imposing wage and pension freezes below inflation.

It has been brutal. Unemployment has climbed, economic activity has declined and poverty has surged.

But now signs have emerged that Argentina’s bizarre and long mismanaged economy is starting to look a little more normal.

Monthly inflation has plummeted, bonds have rallied