Argentina’s Inflation Surges Past 200% | 15 Jan 2024

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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