Argentina's monthly inflation rate slightly ticked up in June after slowing to its lowest in five years, official data showed on Monday.

Argentina inflation ticked up slightly and less than expected in June, another win for President Javier Milei ahead of midterm elections after a large seasonal component pulled May’s reading down to a five-year low.

The Consumer Price Index, which tracks the changing costs of goods, rose in June for the second month in a row. Kelly O'Grady breaks down what that means.