Argentina Braces for Record Inflation Crisis, Surpassing Venezuela's Rates
• Argentina's inflation crisis puts it on track to surpass Venezuela as the country with the fastest price increases in Latin America • President Javier Milei has introduced austerity measures and devalued the peso by 54%, leading economists to expect 200%+ inflation in December • Venezuela's inflation has cooled to 193% due to eased US sanctions and the stabilization of its currency • Milei's reforms imply further inflation shocks ahead for Argentina, with prices expected to rise triple digits for at least a year • Venezuela could see resurgent inflation problems in 2024 due to upcoming elections, but analysts expect it to decelerate if oil prices and sanctions relief hold