Posted 1/9/2024, 2:26:26 PM
Argentina Sees Highest Inflation Since 1990 as Peso Plummets
- Argentina's monthly inflation rate in December likely reached 28%, the highest since 1990
- The sharp devaluation of the peso currency last month by President Javier Milei drove the spike in inflation
- Prices rose sharply for food, apparel, transport, and other goods after the 50%+ peso devaluation
- Annual inflation for 2022 is set to top 200%, one of the highest rates globally
- Milei has recognized inflation will likely come in around 30% in December, though he said it could have been worse