Rapid Fire
Argentina’s Inflation Surges Past 200%
- 15 Jan 2024
- 1 min read
Argentina's annual inflation rate sped past 211% in December,2023 as per official data released recently, hitting the highest level since the early 1990s, when the country was emerging from a period of hyperinflation, with food prices climbing particularly fast.
- Argentina's monthly inflation rate also hit 25.5% in the month, slightly below forecasts, after a sharp devaluation of the peso currency to get inflation under control.
- The inflation reading took Argentina past regional peer Venezuela,, where inflation cooled to an estimated 193% in 2023, following years of painful, out-of-control price rises.
- Hyperinflation is an extreme and rapid increase in the general price level of goods and services within an economy, often exceeding 50% per month.
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