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In Argentina, a country with a chronic inflation problem, the interest rate was hiked to 69.5% in August, as inflation has further deteriorated hitting a 20-year high at 70%, and is forecasted to top 90% by the end of the year. [197] Inflation hit past 100% in February 2023 for the first time since 1991.
[citation needed] In 2022, Argentina's inflation rate reached 100%, and in November 2023 reached 143%, with 55% of children in Argentina living below the poverty line and more than 18 million citizens not being able to afford basic goods as of 2023. [22]
Argentina's 2023 annual inflation was the highest in the world at 211.4%. [41] In January 2024, Argentina’s poverty rate reached 57.4%, the highest poverty rate in the country since 2004. [42] Because of Milei's policies, the monthly inflation rate dropped to 2.4% in December 2024, marking an end to Argentina's period of hyperinflation. [43]
Argentina's annual inflation could hit 100.3% this year, according to an analysts survey published by the country's central bank on Thursday, jumping 5.3 percentage points from the previous estimate.
Argentina's annual inflation soared to 211.4% in 2023, the highest rate in 32 years, according to figures released Thursday by the government’s INDEC statistics agency. The data reflects the ...
Argentina's consumer price index rose 4.6% in June, slightly up from the rate of 4.2% in May, ending a five-month trend of cooling inflation that experts had attributed to a deepening recession brought about by Milei's harsh austerity. The International Monetary Fund predicts a 2.8% contraction this year.
Argentina's statistics agency on Tuesday reported October's number. In September, inflation was 3.5%. On an annual basis, inflation in October was 193% compared to 209% reported in September.
The inflation in Argentina rose heights of 250% in December 2023, whilst the annual percent change in GDP growth has fallen to -2.8%. [21] To avoid further economic troubles, Milei and the IMF struck a deal that would allow for US$44 billion dollars of funds to go the country. This deal helps keep the Argentina government solvent, but it will ...