Argentina's Inflation Soars to Over 200%, Sparking Economic Hardship and Austerity Measures
• Argentina's inflation rate hit 211% in December, reaching the highest level since the early 1990s • Monthly inflation was 25.5% in December after the peso currency was sharply devalued • New President Javier Milei took office in December pledging to get inflation under control through austerity • Many Argentines are further tightening their belts, with 40% already in poverty • Argentines have adapted to high inflation over the years but are weary and buying fewer things