Argentina's consumer prices have risen more than 200% so far in 2023, reaching their highest level since the early 1990s, Report informs via the Financial Times.
Annual inflation in the country amounted to 211.4% within 12 months, according to data from the Argentine statistical agency. Over the past month, the figure has increased by 25.5%. The purchasing power of Argentines fell by an average of about 10% in December, with wages growing more slowly than prices.
As a result, in terms of consumer price growth, Argentina has overtaken Venezuela (+193% in 2023), which has long remained the leader in inflation in Latin America.
According to analysts, inflation in Argentina will continue to remain high during January and February.